Company research
Fetched Sep 24
Axle Energy connects EVs, batteries and heat pumps to electricity markets through a single unified API, turning distributed assets into a coordinated virtual power plant for energy brands, utilities and fleet operators.
- Founders
- Karl Bach · CEO & co-founder
- Archy de Berker · co-founder and CTO
- Business model
- Axle monetizes flexibility by aggregating EVs and other distributed devices, selling their flexibility into electricity markets, and sharing the resulting revenue with OEMs and consumers.
- Customers
- Pod, myenergi, Easee
WHY IT MATTERS
Axle targets the renewable-grid balancing problem by coordinating flexibility already sitting in EVs, batteries and heat pumps instead of relying only on fossil-fuel plants. The $25m Series A matters because the company says it already coordinates more than 300,000 connected devices representing over 2GW of flexible capacity and will use the funding to expand across Europe and beyond.
Checked against 13 sources on Sep 24
Sources
Investors
Seed$9M~ 2024-087 investors
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