Axle secures $1.6m in pre-seed financing from Picus Capital and Eka Ventures to accelerate grid decarbonisation
Picus Capital led the pre-seed round for the London-based energy flexibility startup.
≈ £1.3M at $1 = £0.7892 on 14 Jun 2023
London-based energy flexibility startup connecting electric vehicles and household energy devices to electricity markets.
London-based energy flexibility startup Axle has secured $1.6m in pre-seed financing to accelerate the decarbonisation of the electricity grid. The round was led by Picus Capital, with participation from Eka Ventures.
Founded earlier this year by Karl Bach and Archy de Berker, the company provides software that links home energy devices and electric vehicles to electricity markets. The platform acts as an intermediary, enabling energy suppliers and hardware manufacturers to optimise flexibility and lower residential energy bills.
The newly raised capital will support the company as it develops its technology and expands access to its energy flexibility platform.
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
Co-founder at Axle
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
