Axle Energy Accelerates Grid Decarbonization with $9M Seed Round

Axle Energy, a U.K.-based startup, has raised $9 million (£7 million) in seed funding, bringing its total capital to over $10 million (£8 million). This latest round will fuel the company's expansion across Europe and bolster its team as it drives forward its mission to transform the energy grid.

• Investor Backing: The round was led by Accel, with support from Picus Capital, Eka Ventures, and notable angel investors like Amit Gudka, Sierra Peterson, Hanno Renner, and Nico Rosberg.

• Innovative Platform: Axle’s software connects flexible assets—such as EVs, home batteries, and heat pumps—to energy markets, enhancing grid stability and reducing consumer costs.

• Manufacturer Partnerships: Collaborations with SolarEdge, myenergi, Pod Point, and GivEnergy help manufacturers access new markets and reward customers for grid contributions.

• Founders' Insight: Founded in 2023 by Karl Bach and Archy de Berker, Axle Energy aims to address the challenges of fossil fuel dependence and drive the transition to renewable energy.

The new funding will accelerate Axle Energy’s growth, enabling it to meet rising demand for flexible power sources and further its goal of eliminating fossil fuels from the grid.