IONATE funding news – Deeptech Startup IONATE Secures $17M in Series A Round Funding

Since 2019, IONATE has been building the hardware-software backbone for smart grids. In the past year, the clash of outdated electrical infrastructure and modern energy needs, such as AI and decarbonisation escalated the strain on both the grid and connected industries.

Power issues now threaten uptime in systems with no visibility and control; workaround solutions leave critical industries like manufacturing and data centers struggling with energy efficiency.

IONATE’s Hybrid Intelligent Transformer (HIT) and Aurora Platform have been validated just in time to serve this accelerating demand.

A fundamental upgrade to the building block of electrical systems, the HIT replaces old transformers with a smart equivalent. It integrates high-fidelity data and precise power flow control to detect, analyse and resolve power disturbances in real time.

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But in doing so, HITs effectively light up real-time control nodes – transforming power systems one substation at a time. Coordinated by IONATE’s Aurora, their network will unlock a step change in efficiency, capacity, and achieve true smart grid capabilities with AI-enabled control.

The first networks to benefit are Portugal and Spain, operated by energy giant EDP, with more to follow in 2025. Simultaneously, IONATE has been scaling to serve industrial sectors, especially data centres, as a NATO DIANA innovator.

The investment will fuel IONATE’s growth across key markets, launch its US operations and supercharge its tech to usher in a new era of smart grids.

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.”

IQT’s UK Director, J.D. Englehart said: “Energy resilience is a matter of national security. IONATE has built a transformational technology that unlocks grid resilience and control, which will have massive applications and implications for critical national infrastructure such as power stations and data centers. We’re thrilled to be investing in and partnering with IONATE to amplify and accelerate their mission.”

JGC’s Hideki Kawakami also commented: “We are extremely honored to be part of this investment round and to create new pages in IONATE's journey together with great co-investors. I am very excited to witness the innovation that IONATE's smart transformer brings to our society, not only as a business partner, but also as a futuristic engineer. We have no doubt that IONATE's wonderful team and cutting-edge technology will decarbonise our society with more widespread renewable energy.”

Giovanni Bologna, investor at Santander InnoEnery Climate Fund, said: “We are living in a world that is witnessing a constant increase in electricity demand, while new distributed energy-generating and energy-consuming assets like residential solar, EV chargers or heat pumps are introduced. All these factors put already-old grid networks under extreme pressure. We believe IONATE is uniquely positioned to be part of the solution to this problem, directly acting on the nodes of the power distribution systems. Extremely happy to partner up with such an “obsessed” and knowledgeable team, and with a great line up of co-investors.”

Michael Gryseels, Managing Partner at Antares Ventures, said: “We are thrilled to partner with IONATE and support its expansion to Asia’s growth markets, and unlock its potential to transform Asia’s power infrastructure with ground-breaking technology that makes electricity grids smarter, more resilient, and ready for the renewable future.”

Pippa Gawley, Founding Partner at Zero Carbon Capital, said: “We’re proud to have been a part of IONATE’s journey since leading their first investment round four years ago. They are an incredibly smart and dedicated team, with a ground-breaking technology that could improve every electrical node. Their smart transformer can enable greater and faster penetration of renewables to the grid, whilst also optimising electrical capacity, availability and reliability. We’re so excited for this new chapter in their story and can’t wait to see them grow from here.”

About IONATE

IONATE is building the hardware-software backbone for smart grids. Its proprietary Hybrid Intelligent Transformer (HIT) replaces transformers with a smart equivalent, integrating high-fidelity data and precise control of voltages, harmonics and reactive power all-in-one.