London-based Tesseract is looking to deliver cheaper and cleaner electricity to consumers. The company cuts out middlemen by delivering renewable energy directly from generating assets.
“Brave solutions are required” in the face of energy shortages and global warming, said Colin Hanna of Balderton Capital, which invested in the round. He said Tesseract’s model “can help us confront these dual challenges without slipping further back into fossil fuels.”
Investors in the round include Accel, German-finnish former racing driver and sustainability entrepreneur Nico Rosberg, and Lowercarbon Capital. Lowercarbon’s Chris Sacca also invested as an angel investor. Tesseract will use the investment to purchase and build clean energy assets.