Axle Energy Raises $9M in Seed Funding

Axle Energy, a London-based startup focused on energy flexibility, has raised $9 million in seed funding to enhance its software platform that connects distributed assets like electric vehicles and solar panels to energy markets. Led by Accel, the funding round included investments from Picus Capital, Ekta Ventures, and notable angel investors such as Formula 1 champion Nico Rosberg. The company aims to facilitate the integration of renewable energy sources and address the volatility in energy supply caused by inconsistent weather patterns. Co-founders Karl Bach and Archy de Berker, both with extensive experience in the energy sector, emphasize the necessity of transitioning away from fossil fuels for a stable and decarbonized grid. With over 15,000 flexible assets already connected, Axle Energy is poised to play a key role in the UK's commitment to achieving zero-carbon electricity by 2030.