Axle Energy, a London company that links home energy devices into electricity markets as a virtual power plant, raised a $25m Series A announced on 8 July 2026. Energize Capital, a US energy software investor, led. Existing investors Accel, Picus Capital and Eka Ventures took part. No valuation was disclosed.
UKTN gave the amount as $25m, or £18.7m, in the article text, though its headline said £20m. Kurrant put the round at about €21m.
The currency framing differs between outlets, but both are consistent with $25m: UKTN's headline says £20m while its text and description give £18.7m, and Kurrant gives about €21m.
“AI and electrification are increasing electricity demand at a pace that power systems were not designed for”Karl Bach, CEO and co-founder, Axle Energy
What Axle does
Axle was founded in 2023 by Karl Bach, a former executive at energy supplier Bulb, and Archy de Berker, a data scientist. Its software integrates distributed home energy assets such as electric vehicle chargers, home batteries and heat pumps into electricity markets. By aggregating them, it lets utilities, fleet operators and equipment makers balance supply and demand and reduce reliance on fossil fuel generation at peak times.
The company says it coordinates more than 300,000 connected devices and over 2GW of flexible capacity. Kurrant lists inverter brands Fox ESS, GivEnergy, SolaX and Solis and charging partner Pod Point as partners rather than customers.
Bach said: "AI and electrification are increasing electricity demand at a pace that power systems were not designed for."
What the money is for
UKTN says the funding will go to expanding partnerships and pursuing an estimated 75 million eligible energy assets across Europe and the US, and to scaling the platform across the UK and international markets. Kurrant lists software engineering, deeper partnerships with device makers, utilities and fleet operators, and expansion from the UK into new European markets, with a growing cross-border team.
Tyler Lancaster of Energize Capital joins the board, and Agustina Soriano-Sergi joins as a board observer, according to Kurrant.
Zhenya Loginov, a partner at Accel, said the firm believes flexibility will become one of the most important layers of the modern energy stack.
The funding so far
UKTN reports that Axle raised £1.3m in a pre-seed round in 2023 and a $9m (£6.7m) seed round in August 2024 led by Accel. Kurrant gives the same rounds as €1.5m and €8.3m. This article uses the UKTN figures and converts the pre-seed to about $1.6m.
Neither source gives a headcount or revenue.
Where the market is going
Bach's argument is that virtual power plants unlock capacity from infrastructure that already exists. UKTN reports that he said they can bring capacity online in weeks rather than years.
The company has not said which utilities or fleets pay for the service.
Kurrant quotes Bach saying, "Millions of EV chargers, home batteries and heat pumps already contain flexible capacity". UKTN says the founders see about 75 million eligible energy assets across Europe and the US, which is the market the new funding is meant to reach.
Company website: axle.energy