Portfolio Updates|

Can climate tech startups fix UK’s broken energy sector?

Tesseract shows how with ‘virtual’ solar panel. We’re thrilled to announce that we led a $78m round to launch the renewable energy venture.

“I firmly believe the innovative and exciting business model will revolutionise the energy industry. Lakestar will support the company’s goals of solving climate change and providing cheap electricity to millions.”
Klaus Hommels

The round was co-led by Balderton Capital UK LLP. Other investors include Accel, CREANDUM, Lowercarbon Capital, Ribbit, BoxGroup and Formula 1 racing champion Nico Rosberg.

Tesseract will utilise the funding to buy and build renewable energy assets and develop the platform.

Congratulations Alan Chang, Charles O. and the growing Tesseract team!

Tesseract is seeking to generate affordable renewable power and help mitigate the effects of climate change. Its mission is to build a terawatt of renewable capacity to power the world. Co-founders Alan Chang and Charles Orr were early employees at Revolut, which they took from a small startup to a $33B fintech success.

Read more about Tesseract here on tech.eu

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