London-based startup Tem secured $75 million in a Series B funding round to revolutionize electricity markets using artificial intelligence, according to TechCrunch. The funding round, led by Lightspeed Venture Partners, values Tem at over $300 million and will be used to expand its energy transaction engine, which promises to cut energy bills for business customers.
Tem's AI-powered platform aims to lower energy prices compared to traditional traders. The company has already signed up over 2,600 business customers in the U.K., offering potential savings of up to 30% on their energy bills. The Series B round also included participation from AlbionVC, Allianz, Atomico, Hitachi Ventures, Revent, Schroders Capital, and Voyager Ventures, TechCrunch reported.
In other tech news, India is expanding its Aadhaar digital identity system, as reported by TechCrunch. The government is introducing a new Aadhaar app and offline verification framework, allowing individuals to prove their identity without real-time checks against the central database. This move raises questions about security, consent, and the broader use of the massive database, according to the report.
Waymo is also expanding its autonomous vehicle testing, removing human safety drivers from its robotaxis in Nashville, as stated by TechCrunch. The Alphabet-owned company plans to launch a robotaxi service in the city this year in partnership with Lyft. Riders will initially hail rides through the Waymo app, with the service eventually expanding to the Lyft app. Lyft will handle fleet services, including vehicle maintenance and charging infrastructure.
Additionally, YouTube megastar MrBeast's company, Beast Industries, is acquiring Step, a teen-focused banking app, according to TechCrunch. Step, which has raised half a billion in funding and has over 7 million users, offers financial services to help Gen Z build credit, save money, and invest. The app has attracted celebrity investors like Charli D'Amelio and Will Smith.
Finally, the social network Bluesky is rolling out drafts, a feature long requested by users, as reported by TechCrunch. The company also plans to improve its algorithmic Discover feed, offer better recommendations, and make the app feel more real-time. Bluesky acknowledged the need to focus on core features, according to the report.
Discussion
AI Experts & Community
Be the first to comment