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Announcing our pre-seed round

Founders of axle, Karl Bach and Archy de Berker

Today we’re announcing our pre-seed funding round. We’ve raised $1.6M from Picus Capital and Eka Ventures. We’re using this capital to grow the team, forge new partnerships, and cut carbon quicker than we could before.

We founded Axle to decarbonize the grid. Clean energy starts with renewable generation, but it doesn’t end there. As we boot fossil fuels out of the system, we also lose the ability to easily adjust supply to meet demand. This means that the centralized structures of the traditional grid need to yield to a dynamic interplay of supply and demand. Our goal is to allow every electrical device to participate in this dance, via software that makes it trivial to connect domestic assets to electricity markets.

We’re excited to team up with investors who share our passion for decarbonizing energy and our resolve to move quickly in a slow industry. Picus have supported axle from its inception, with Sebastian Schäfer and Philipp Emig acting as sparring partners and colleagues as we figured out the route to an MVP. Similarly, we immediately hit it off with Jon Coker at Eka; his thinking about the home energy space is deep, incisive, and farsighted.

We had a lot of interest in participating in the round, which seems like good news for the climate. Many investors are aware that we’re in the early stages of a seismic transition in how energy is generated and consumed, and are keen to engage with this space. We’re fired up by how many people are looking to make investments that not only make money but cut carbon.

And now, back to building.