"We're in a nice position where we kind of have control over our own profitability. So I could have chosen not to raise at all and had a lovely, nice bootstrap business in some ways,"
"Well, we're not that kind of business. We know what we want to achieve as someone who wants to go public over the years."
"The more decentralized and the more distributed, the better it is for the algorithms,"
"But this works all the way up to enterprise."
Tem built an AI-powered energy transaction engine that matches electricity generators with business consumers to reduce prices relative to other energy traders. The company has signed over 2,600 UK business customers and offers up to 30% savings through its utility division. Tem closed an oversubscribed $75 million Series B led by Lightspeed, valuing the company at more than $300 million, and plans expansion to Australia and the U.S., starting with Texas. The business focuses on renewable and distributed generators and serves customers from small businesses to enterprise, including Boohoo Group, Fever-Tree, and Newcastle United FC.
Read at TechCrunch
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