IONATE Secures $17M Funding for Smart Grid Innovations
Deal News | Feb 05, 2025 | UK Tech Funding
In a significant development for the energy sector, London-based startup IONATE has raised $17 million in a Series A funding round to modernize the electrical power grid. Since its founding in 2019, IONATE has developed a comprehensive solution that merges multiple power functions into a single device, promising to replace outdated transformers with intelligent alternatives. Their offering includes the Hybrid Intelligent Transformer and the Aurora software, which together enhance network efficiency and utilize AI for superior smart grid capabilities. IONATE's innovative technology offers a cost-effective solution for utilities and data centers, promising real-time control and lower operational costs. The funding round was led by AlbionVC, with participation from other strategic investors including In-Q-Tel and Santander InnoEnergy Climate Fund. The startup already has a collaboration with energy company EDP in Portugal and Spain and has been recognized by NATO for its innovative approach. IONATE is at the forefront of addressing the growing need for resilient, flexible, and efficient energy systems as global electricity demands are projected to double by 2050.
Sectors
- Renewable Energy & Utilities
- Technology & Innovation
Geography
- United Kingdom – IONATE is a London-based company, reflecting the UK as the geographic focus of the startup.
- Portugal and Spain – IONATE has entered an agreement with EDP, impacting the electricity networks in Portugal and Spain.
Industry
- Renewable Energy & Utilities – The article discusses IONATE, a company that provides solutions for modernizing electrical grids, which is crucial for renewable energy integration and efficient utility management.
- Technology & Innovation – IONATE's products, the Hybrid Intelligent Transformer and Aurora software, represent cutting-edge technological innovation in energy management and infrastructure.
Financials
- $17 million – The total amount raised by IONATE in its Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IONATE | Target Company | Company | A London-based startup focused on modernizing electrical infrastructure with smart grid technologies. |
| AlbionVC | Lead Investor | Company | A venture capital firm based in London leading the Series A funding round for IONATE. |
| In-Q-Tel | Investor | Company | A strategic investor participating in IONATE's funding round. |
| JGC MIRAI Innovation Fund | Investor | Company | A fund participating in IONATE's Series A round. |
| Santander InnoEnergy Climate Fund | Investor | Company | An institutional investor engaged in IONATE's recent funding round. |
| Antares Ventures | Investor | Company | An institutional investor supporting IONATE's funding efforts. |
| Matthew Williams | CEO | Person | The Founder and CEO of IONATE. |
| EDP | Collaborating Company | Company | An energy provider in Portugal and Spain working with IONATE. |