Axle Energy Raises €21M Series A for Grid Flexibility

July 13, 2026

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Axle Energy, a London company that turns EV chargers, home batteries and heat pumps into grid-balancing capacity, has raised €21 million (about £18.7 million) in a Series A round led by Energize Capital. Existing investors Accel, Picus Capital and Eka Ventures also joined.

Founded in 2023 by Karl Bach, Axle runs an energy flexibility platform that pools distributed devices into virtual power plants. The company says it already coordinates more than 300,000 connected assets and manages over 2 gigawatts of capacity, a scale comparable to a nuclear power plant.

Axle will use the money to expand across the UK and international markets, connect more distributed energy assets and deepen partnerships with equipment makers, utilities and fleet operators.

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