Announcing our Series A

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Today we’re announcing our $25m Series A led by Energize Capital, with continued participation from our existing investors Accel, Picus Capital, and Eka.

It’s been a barnstorming 3 years for Axle. We’ve delivered hundreds of gigawatt hours of flexibility to the grid, earned millions of pounds for consumers, and updated the rules of the GB electricity system. We’ve shown that distributed devices like batteries, EVs, and heat pumps can go from being a nuisance for grid operators to a reliable partner in balancing the grid. And we’ve built a thriving, slightly quirky company full of people driven to decarbonise the global energy system.

Device manufacturers, energy suppliers, and fleet operators use our platform to connect assets to energy markets. We’re integrated into dozens of electricity markets, helping grid operators balance the grid and resolve congestion issues. And dozens of clients have now built fantastic user propositions on Axle that allow consumers to earn cash for helping the grid.

Axle’s goal is to make it trivial for distributed devices to participate in energy markets, wherever in the world they’re deployed. We believe this is an essential ingredient for decarbonised grids, which need more flexible demand to counterbalance increased intermittency of supply. This funding round will help us advance this vision, turbocharging our expansion into Europe and beyond.

Energy is once again on everybody’s lips, with AI, war, and weather underscoring the importance of building a resilient and flexible grid free of fossil fuels. We’re delighted to have such formidable partners along for the ride. And if you’re interested in shaping the future of the electricity system, we’re hiring across the business.