Axle Energy secures £1.3m pre-seed funding from Picus Capital to expand its energy flexibility platform
The financing round was led by Picus Capital with participation from Eka Ventures.
Axle Energy develops software that links household clean tech devices to electricity markets. The company works to balance power networks and support the shift away from fossil fuels.
Axle Energy has secured £1.3m in a pre-seed funding round led by Picus Capital, with participation from Eka Ventures. The capital will support the company as it develops its energy flexibility platform, which links electric vehicles and home appliances to power markets.
The electricity system faces structural challenges as intermittent renewable sources replace traditional fossil fuel generation. Home devices such as heat pumps, batteries, and electric vehicles offer significant flexibility in power consumption, but integrating them into legacy grids remains difficult.
Axle acts as a virtual intermediary to dynamically shift household energy usage to periods when power is cheapest and greenest. The firm collaborates with original equipment manufacturers and energy suppliers to help reduce residential bills and enhance grid capacity.
From the founder
"The time to decarbonise is now, and that requires a connected, dynamic, flexible grid, not the monolith we have today."
Karl Bach
CEO and Co-Founder at Axle Energy
Investor perspective
"By building a Stripe for energy, axle is accelerating energy flexibility and decarbonisation, saving households on their bills, and creating long-term value for actors across the energy ecosystem."
Sebastian Schäfer
Partner, Picus
Investors
About the company
Axle Energy
Axle Energy builds software to connect home appliances and electric vehicles to the power grid.