Axle Energy, a London, UK-based energy flexibility platform connecting distributed assets with energy markets, raised $9M (£7M) in seed funding.
The round, which brought the total amount raised by the company to over $10M (£8M), was led by Accel with participation from existing investors Picus Capital and Eka Ventures, as well as a number of angel investors including Amit Gudka (founder and CEO of Field Energy), Sierra Peterson (founder of Voyager Ventures), Hanno Renner (founder and CEO of Personio), and Nico Rosberg (Formula 1 World Champion and sustainability entrepreneur).
The company intends to use the funds to expand its team and grow across the European energy market.
Co-founded by Karl Bach (CEO) and Archy de Berker (CTO) in 2023, Axle Energy is an energy flexibility company, connecting flexible assets to energy markets. Its software platform helps energy suppliers and manufacturers of flexible assets, such as EVs and home batteries, to grow their revenue by participating in flexibility markets, create value for their customers by paying them for energy, and sell more units.
The company has already connected more than 15,000 flexible assets to energy markets, totalling over 85 MW of capacity.
They recently launched partnerships with innovative manufacturers such as SolarEdge, myenergi, Pod Point and GivEnergy to help them provide clean flexibility to the grid and reward their customers for helping to do so.
FinSMEs
01/08/2024