Series A5 February 2025

IONATE secures $17m in Series A funding from AlbionVC and other investors to scale its smart grid technology.

The London-based deeptech company raised the Series A round to expand into the US market and further develop its hardware and software platform.

$17.0MSeries A

≈ £13.6M at $1 = £0.7999 on 5 Feb 2025

Share allotment filed at Companies House

IONATE develops hardware and software to modernise and manage electrical power grids.

London-based deeptech startup IONATE has secured $17m in Series A funding to support its expansion into the US and advance its grid technology. The round was led by AlbionVC, with participation from new strategic investors including In-Q-Tel, JGC MIRAI Innovation Fund, Santander InnoEnergy Climate Fund, and Antares Ventures. Existing backers IQ Capital, Zero Carbon Capital, and Cycle Group also joined the round.

The company provides an integrated hardware and software solution designed to upgrade ageing electricity networks into intelligent, decentralised platforms. Its flagship Hybrid Intelligent Transformer, managed by AI software, consolidates multiple power management functions into a single device to stabilise energy flows.

From the founder

"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."

Matthew Williams

Founder and CEO at IONATE

Investor perspective

"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."