Web3 Energy Company Tesseract Raises $78M with Balderton Capital Involved

Web3 energy company Tesseract announced that it has raised $78m in a funding round with participation from Balderton Capital, Low Carbon, Ribit Capital, former F1 driver Nico Rosberg and others. Tesseract aims to tokenize the energy business. Each Tesseract token will act as a power purchase agreement (PPA) and correspond to a right to access power targeted at 1 watt of capacity on the company's network.