Axle Energy Secures $9 Million Funding for Energy Platform
Axle Energy, a pioneering energy flexibility platform based in London, UK, has successfully secured an impressive $9 million (£7 million) in seed funding. This latest funding round not only highlights investor confidence in the company's innovative approach to energy management but also elevates the total amount raised by Axle Energy to over $10 million (£8 million). The funding round was spearheaded by Accel, a renowned venture capital firm, with backing from existing investors such as Picus Capital and Eka Ventures. In addition, a number of notable angel investors joined the round, including Amit Gudka, the founder and CEO of Field Energy; Sierra Peterson, founder of Voyager Ventures; Hanno Renner, founder and CEO of Personio; and Nico Rosberg, the celebrated Formula 1 World Champion who has turned his focus to sustainability entrepreneurship.
Founded in 2023 by the dynamic duo of Karl Bach (CEO) and Archy de Berker (CTO), Axle Energy is on a mission to revolutionize how flexible energy assets are integrated into the increasingly competitive energy markets.
The company specializes in creating a vital connection between energy suppliers and manufacturers of flexible assets, such as electric vehicles (EVs) and home batteries. By leveraging their cutting-edge software platform, Axle Energy not only helps these stakeholders enhance their revenue streams through participation in flexibility markets but also delivers value to their customers by compensating them for the energy they contribute. To date, Axle Energy has successfully linked over 15,000 flexible assets to energy markets, resulting in an impressive cumulative capacity exceeding 85 megawatts.
In a bid to broaden its impact and enhance the services it provides, Axle Energy has recently initiated strategic partnerships with innovative manufacturers in the renewable energy sector. Collaborations with companies such as SolarEdge, myenergi, Pod Point, and GivEnergy are designed to facilitate the delivery of clean energy flexibility to the power grid while offering attractive incentives to customers for their contributions. With the fresh influx of capital and a growing network of partnerships, Axle Energy is poised to make significant strides in the European energy landscape, fostering a more sustainable and efficient future for energy consumption and generation.
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