IONATE, a London-based startup, has raised $17 million in a Series A funding round to expand its presence in key markets, launch US operations, and advance its technology. The company develops smart electric transformers and software for electric grids to help address the strain on grids driven by modern energy needs, such as decarbonization and AI. IONATE’s solutions enable grids to handle more distributed energy sources like solar power, electric vehicles, and heat pumps, increase power capacity without upgrading physical infrastructure, and reduce wasted power.
The company’s offerings include the Hybrid Intelligent Transformer (HIT), a smart transformer that integrates high-fidelity data and precise power flow control, and the Aurora Platform, which uses AI-enabled software to coordinate HITs across a network. Matthew Williams, IONATE’s Founder & CEO, stated, “As national networks, industrial players, and data centers recognize the importance of modernizing their electrical infrastructure, we are ready to help them achieve this. Resiliency, flexibility, and efficiency are key for our energy systems, and IONATE is uniquely positioned to strengthen all three.”
The funding round was led by AlbionVC, with participation from strategic investors IQT, JGC MIRAI Innovation Fund, and institutional investors Santander InnoEnergy Climate Fund and Antares Ventures.
Ionate’s smart transformer benefits
Existing shareholders IQ Capital, Zero Carbon Capital, and Cycle Group also participated. David Grimm, Partner at AlbionVC, remarked, “IONATE is pioneering grid technology that supports the energy and environmental requirements of modern infrastructure.
Matthew and the team have quickly gained traction with utilities and strategic partners, demonstrating the potential of their innovative full stack hardware-software solution. Their patented technology and first-mover advantage position IONATE to deliver transformative, long-term solutions that offer clean electricity alongside high performance.”
IONATE, founded in 2019, is collaborating with energy giant EDP, with Portugal and Spain being the first to benefit from its technology. The company has also scaled its solution for data centers and continues to receive industry recognition, including from NATO’s Defence Innovation Accelerator for the North Atlantic (DIANA).
The investment will fuel IONATE’s growth across key markets and help launch its operations in the US, as the company aims to modernize global power systems and address the increasing demand for electricity consumption, which is expected to double by 2050.
