IONATE raises $17m Series A to modernise power systems as demand intensifies globally
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IONATE, the deeptech startup offering the hardware-software backbone for smart electricity grids, has raised $17 million Series A led by us at AlbionVC. The round was joined by a strong syndicate of new strategic investors including “In-Q-Tel (IQT)”, JGC MIRAI Innovation Fund, and institutional investors Santander InnoEnergy Climate Fund and Antares Ventures. Existing shareholders, IQ Capital, Zero Carbon Capital, and Cycle Group also participated in the round.
Founded in 2019, IONATE has built a full stack solution that consolidates multiple power system functions into a single, cost-effective device, addressing the shortcomings of traditional offerings. With electricity consumption expected to double by 2050 (IAEA) and much of the grid infrastructure nearing the end of its life, the market for grid modernisation is vast and the global spend is expected to reach $21 trillion by 2050 (BloombergNEF).
With its technical differentiation, IONATE is well-positioned to capture this market; its hardware Hybrid Intelligent Transformer (HIT) replaces old transformers with a smart equivalent that detects, analyses, and resolves power disturbances in real time. The Aurora software platform unlocks network efficiency, renewables hosting capacity, and achieves true smart grid capabilities with AI-enabled control. This unique combination allows IONATE to offer real-time control and visibility at a lower cost, making it an all-in-one solution for utilities, manufacturers and data centers.
The company is collaborating with energy giant EDP, with Portugal and Spain networks being the first to benefit. It has also scaled its solution for data centers and continues to receive industry recognition including from the NATO’s Defence Innovation Accelerator for the North Atlantic (DIANA).
IONATE’s leadership team is well-equipped to continue driving the company forward and combines deep technical expertise with strategic leadership. Matthew Williams, the founder and CEO, has a strong background in electrical and control engineering and has been leading companies in the space for the last decade.
“The IONATE team builds extraordinary tech with extraordinary timing. Just as national networks, industrial players and data centers realised how much of their progress depended on modernising their electrical infrastructure, we are ready to help them do exactly that. Resiliency, flexibility, and efficiency are key for our energy systems, and IONATE is uniquely positioned to strengthen all three. We are so excited to have some of the strongest VCs and strategic partners in our corner to realise this impact and begin transforming power globally.”
Matthew Williams IONATE’s Founder & CEO
“IONATE is pioneering grid technology that supports the energy and environmental requirements of modern grid infrastructure. Matthew and the team have quickly gained traction with utilities and strategics, showcasing the potential of their innovative full stack hardware-software solution. Their patented technology and first-mover advantage position IONATE to deliver a transformative, long-term product that brings the promise of clean electricity alongside performance requirements.”
David Grimm, Partner AlbionVC
The investment will fuel IONATE’s growth across key markets, launch its US operations and supercharge its technology to usher in a new era of smart grids.
More on Sifted here.
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