London-based energy software company Tem has closed a $75 million Series B round led by Lightspeed Venture Partners, valuing the company at over $300 million.

The funding round included additional investment from AlbionVC, Atomico, Hitachi Ventures, Schroders Capital, Voyager Ventures, and Allianz, among others.

Tem will use the funds to expand into the United States and Australia, and to further develop its AI-native energy platform.

The platform is designed to automate the pricing, matching, and execution of electricity transactions using machine learning to forecast supply and demand and match buyers with suppliers.

Tem has raised $75 million in a Series B funding round led by Lightspeed Venture Partners, with participation from AlbionVC, Atomico, Hitachi Ventures, Schroders Capital, Voyager Ventures, and Allianz, among others. This investment values the company at over $300 million.

The funding will be used to support Tem‘s expansion into the United States and Australia. Tem is a London-based energy software company that has developed an AI-native energy platform. This platform is designed to automate the pricing, matching, and execution of electricity transactions, which have traditionally relied on manual processes and legacy infrastructure. The core system utilizes machine learning to forecast supply and demand, match buyers with suppliers, and optimize energy transactions.

The successful funding round is expected to have a significant impact on the energy market, as Tem continues to grow and expand its operations. With its AI-first platform, the company is poised to revolutionize the way energy transactions are conducted, increasing efficiency and reducing reliance on manual processes. As Tem moves forward with its expansion plans, it will be interesting to see how the company’s innovative approach to energy transactions disrupts the market and shapes the future of the industry.