Tesseract Raises $78M in Funding
- Tesseract, a London, UK-based new energy company, raised $78m in funding
- The round was led by Balderton Capital and Lakestar with participation from Accel, Creandum, Lowercarbon Capital, Ribbit and BoxGroup, along with strategic angels
- The company intends to use the funds to buy and build selected renewable energy assets and support the development of the platform
- The company is a vertically-integrated energy startup that aims to decentralize the right to power, providing commission-free energy to customers without the need for rooftop solar panels
- Instead of installing solar panels, customers will be able to buy a ‘virtual’ solar panel or wind turbine on the app which could cut their bill by as much as 100% and allow them to capitalise on selling the excess energy
