Axiom Exergy Raises $2.5M for Thermal Energy Storage

By [email protected] Axiom Exergy has raised $2.5 million in a Series A funding round to bring its refrigeration battery to supermarket customers in key markets.

Investors include Element 8 Fund, Victory Capital, the MIT Angels, Propel(x) angels, the Sierra Angels, Tesla CTO JB Straubel and other undisclosed investors. The Richmond, Calif.-based startup had also raised less than $1 million in angel funding.

The financing comes as the young company has finished building its first full-scale system and is getting its first commercial project in the ground. The money will be used to support $5 million in signed contracts.

Axiom’s technology is long-scale thermal energy

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