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Energy markets often feature unclear contracts, high fees, and outdated systems, which increase business costs by masking risks and inefficiencies.
As data centres, AI, and electrification are expected to drive a 165% increase in demand by 2030, London-based tem is updating the sector with AI-based infrastructure. Their platform automates clear transactions, reduces costs by up to 30%, and offers a modern neo-utility interface.
Today, tem raised $75 million in an oversubscribed Series B round led by Lightspeed Venture Partners, and Paul Murphy will join the board. Other investors include Hitachi Ventures, Voyager Ventures, Schroders Capital, AlbionVC, Atomico, and Allianz, bringing total funding to $94 million.
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ElevenLabs has cemented its place as the UK’s most valuable AI firm after a $500m (£368m) Series D investment has valued it at $11bn.
The new funding round London-headquartered group, known for its powerful AI-generated audio technology specialising in voice generation, has been led by US investment group Sequoia.
The sizeable Series D also includes significant support from the likes of a16z, Iconiq, BroadLight, NFDG, Valor Capital, AMP Coalition, and Smash Capital as well as new investors Lightspeed Venture Partners, Evantic Capital and Bond.
Discussing the funding round, ElevenLabs co-founder Mati Staniszewski said “it reflects the trust of customers and partners building at the frontier alongside us – and gives us momentum to ship even faster”.
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A growing number of people are asking OpenAI’s ChatGPT and other LLMs about their health, often discovering that the chatbots provide remarkably useful medical insights.
KJ Dhaliwal, who in 2019 sold the South Asian dating app Dil Mil for $50 million, says he has been thinking about the inefficiencies of the U.S. healthcare system ever since he was a child acting as a medical translator for his parents, and he saw the advent of LLMs as an opportunity to do something about it.
In May 2024, he launched Lotus Health AI, a free primary care provider that’s available 24/7 in 50 languages. On Tuesday, Lotus announced it raised $35 million in a Series A round co-led by CRV and Kleiner Perkins, bringing its total funding to $41 million.
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BayHawk Capital, a Boston‑based private equity firm investing in founder-owned technology and essential services businesses, has closed its inaugural fund at $616m in total commitments. The firm was founded in 2024 by THL Partners veterans Jeff Swenson and Doug Haber.
The fund closed oversubscribed at its hard cap and above its original target of $475m, driven by strong support from a diverse investor base of leading endowments, institutions, family offices, and members of the firm’s network.
The fund is being actively deployed, with two platform investments completed to date. The firm says it has a well-developed pipeline of founder-owned companies that benefit from secular tailwinds, where it can serve as a differentiated partner in building scale through professionalisation and consolidation.
Monument Group, Inc served as the exclusive placement agent, and Kirkland & Ellis LLP served as legal counsel.
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Semiconductor startup Positron has secured $230 million in Series B funding, TechCrunch has exclusively learned. The outfit plans to use the capital to speed up deployment of its high-speed memory chips, a critical component for the chips used for AI workloads, sources familiar with the matter told TechCrunch.
The round, which brought Positron to a $1 billion valuation, was co-led by Arena Private Wealth, Jump Trading, and Unless, with strategic investment from Qatar Investment Authority (QIA), the country’s sovereign wealth fund, which has been increasingly focused on building out AI infrastructure, the sources said.
The Reno-based startup’s Series B comes as hyperscalers and AI firms push to reduce their reliance on longstanding leader Nvidia. These firms include OpenAI, which, despite being one of Nvidia’s largest and most important customers, is reportedly unsatisfied with some of the firm’s latest AI chips and has been seeking alternatives since last year.
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After securing a €350 million commitment from the European Investment Fund under the European Tech Champions Initiative in 2024, Mundi Ventures has just completed a €750 million first close for Kembara, its fifth fund and largest to date.
Regulatory filing from Spain reveals that the fund — focused on deep tech — could even stretch its final closing to €1.25 billion. But according to Kembara co-founder and general partner Yann de Vries, getting to €750 million in two years as a first fund in this environment “was not easy.”
Kembara is managed by a specialist team within Mundi Ventures, with offices in Madrid, London, Barcelona, and Paris. Mundi Ventures founder Javier Santiso is now also a co-founder and GP of the Kembara fund, which has now disclosed the full list of its senior partners.
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OneDome, a London, UK-based provider of a housing and fintech platform, raised $25M in Pre-Series C funding.
Backers included existing investors alongside Channel 4 Ventures.
The raise brought the total amount to $40M.
The company intends to use the funds to support the next phase of growth, including continued investment in technology, product development, and expansion of its integrated housing and financial services platform.
Led by CEO and Founder Babek Ismayil, OneDome is a provider of a housing and fintech technology solution building an AI-powered platform to support financial decisions, from buying a first home to building and protecting long-term wealth.
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GoCab, a London, UK based-provider of a mobility and financial services platform, raised $45M in a financing round consisting of $15M in equity and $30M in debt.
The equity portion was led by E3 Capital and JANNGO Capital, with participation from KawiSafi Ventures and Cur8 Capital. The debt was secured from Cur8 Capital and others. In conjunction with the funding, Vladimir Dugin, Managing Partner at E3 Capital, and Fatoumata Bâ, Founder and Executive Chair of Janngo Capital, are joining the company’s board.
The company intends to use the funds to grow its presence in current African markets, enter new cities, boost the number of electric vehicles in its fleet, and launch AI tools for credit scoring and risk management.
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EQT has agreed to acquire UK-based private equity firm Coller Capital in a transaction valued at up to $3.7bn, marking the Swedish buyout group’s entry into the private capital secondaries market, according to a report by Dow Jones Newswires.
Under the terms of the deal, EQT will pay a base consideration of $3.2bn, funded through the issuance of new EQT ordinary shares. An additional earn-out of up to $500m will be payable in cash, subject to the achievement of certain performance milestones.
Founded in 1990, Coller Capital is a specialist in private capital secondaries and manages close to $50bn in assets across institutional, private wealth and insurance-related strategies.
EQT said the acquisition represents a strategic expansion of its platform, reflecting growing client demand for liquidity solutions and more flexible portfolio construction tools.
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Major banks HSBC, Barclays, NatWest, Lloyds and Santander have agreed to commit £11bn of capital to a government-led lending package to help UK businesses grow and expand abroad.
The package was agreed at a roundtable conversation in Westminster attended by executives from the banks.
The Department for Business and Trade said that the capital would in particular support small and medium-sized enterprises that aim to grow overseas.
“Strengthening Britain’s export potential relies on British businesses having the means, motive, and opportunity to succeed in new overseas markets,” said Business Secretary Peter Kyle.
“The £11bn these banks are making available will help meet the ambitions of smaller British businesses to fully export, expand and exploit these international market opportunities. It is positive proof of UK lenders’ confidence in the growth prospects of British enterprise.”
UK Export Finance (UKEF), a government-owned export credit agency, will guarantee up to 80% of the loans.
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