London-based deeptech startup IONATE, specializing in hardware-software solutions for smart electricity grids, has raised $17 million in a Series A funding round led by AlbionVC. The round also included participation from new strategic investors such as In-Q-Tel (IQT), JGC MIRAI Innovation Fund, Santander InnoEnergy Climate Fund, and Antares Ventures, alongside existing shareholders IQ Capital, Zero Carbon Capital, and Cycle Group.
Founded in 2019 by Matthew Williams, IONATE develops advanced grid technology, including its Hybrid Intelligent Transformer (HIT) and Aurora software platform. The HIT integrates data management and precise control of voltage, harmonics, and reactive power, enabling real-time grid stabilization for power generation, industrial operations, and data centers. The Aurora platform uses AI to enhance network efficiency, increase renewable energy capacity, and provide smart grid features.
The funding will support IONATE’s expansion into key markets, including the launch of its US operations. The company is already collaborating with EDP to improve networks in Portugal and Spain.
