Arxax, the cleantech startup driving the green transition in road transport, has raised €1 million to accelerate the deployment of its telematics-powered refueling network.
The investment is backed by “Zero”, the cleantech part of CDP Venture Capital National Accelerator Network program, through follow-on investments by CDP Venture Capital and Zest, and EIT Urban Mobility, with additional grant support from Invitalia’s Smart and Start program and the Autonomous Province of Bolzano.
Arxax is building an intelligent zero-carbon refueling network. This network will enable transportation companies to access low-emission energy sources at strategically located refueling stations optimized for their fleet operations, reducing costs while cutting carbon emissions.
Arxax is a cleantech startup innovating in clean and digital technology, with a background in transportation and energy.
“As a female founder, securing this investment is a testament to the growing recognition of women-led innovation in the energy transition,” said Elham Hassanzadeh, Founder & CEO of Arxax. “This investment allows us to scale our team, expand our refueling hub network, and deepen our partnerships with key industry players. We are creating a seamless and data-driven energy transition for road transport, ensuring sustainability and efficiency go hand in hand”.
“We are very pleased with the Arxax investment, a company that fits perfectly into our investment strategy” said Stefano Molino, Head of the Accelerators Fund of CDP Venture Capital. “The smart refueling network developed by Arxax improves road transport economic efficiency and reduces pollution, promoting more financially and environmentally sustainable mobility. We strongly believe in the potential of this team and are convinced that it can establish itself as a leading entity in the transportation sector”.
On the investment, Head of Portfolio Management at EIT Urban Mobility, Matteo Consonni said: “We believe Arxax has the potential to deliver both strong financial returns and meaningful environmental impact. Their innovative approach to low-carbon refueling infrastructure directly aligns with our mission to drive sustainable mobility solutions across Europe. This investment reflects our confidence in Arxax’s team and their ability to scale an intelligent, data-driven network that meets the evolving needs of the transport sector.”