British Ionate closes $17M Series A for energy grid platform

IONATE, a deeptech startup offering a hardwrae and software solution for smart electricity grids, has raised a $17M Series A led by AlbionVC.

The round was joined by a 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's software consolidates multiple power system functions into a single device. With electricity consumption expected to double by 2050 and much of the grid infrastructure nearing the end of its life, the market for grid modernisation is expected to reach $21 trillion by 2050.

IONATE's hardware Hybrid Intelligent Transformer (HIT) replaces old transformers with an equivalent that detects, analyses, and resolves power disturbances. The Aurora software platform allows for network efficiency, renewables hosting capacity, and achieves true smart grid capabilities with AI-enabled control.

The company is collaborating with energy giant EDP, in Portugal and Spain. 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).

Matthew Williams IONATE’s Founder & CEO said: “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.”

David Grimm, Partner AlbionVC said: "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.”