London's Axle Energy raises €21 million Series A to scale EV charger and battery flexibility platform
By Eve
Axle Energy, a British energy flexibility platform that aggregates EV chargers, batteries and heat pumps for grid balancing, has closed a €21 million Series A led by Energize Capital, with Accel, Picus Capital and Eka Ventures participating. The company will use the funds to expand across the UK and international markets, connecting more distributed energy assets and deepening partnerships with OEMs, utilities and fleet operators. CEO Karl Bach said virtual power plants can bring flexible capacity online in weeks rather than years, reducing reliance on fossil fuel peaker plants when demand spikes.
Why it matters: For charge point operators and fleet managers, Axle's platform offers a revenue stream by turning idle EV chargers into grid services, while procurement teams at utilities and OEMs gain a partner to monetise flexibility and meet rising electricity demand from electrification and data centres. The Series A signals growing investor confidence in software that unlocks value from existing charging infrastructure without new capital expenditure on generation or grid upgrades.