IONATE Secures €16.3 Million to Advance Global Energy Grid Modernization

IONATE, the London-based DeepTech startup focused on developing hardware and software solutions for smart electricity grids, has raised €16.3 million in a Series A funding round. The round was led by AlbionVC and included participation from several strategic and institutional investors, such as In-Q-Tel (IQT), JGC MIRAI Innovation Fund, Santander InnoEnergy Climate Fund, and Antares Ventures. Existing investors IQ Capital, Zero Carbon Capital, and Cycle Group also contributed to the funding.

Matthew Williams, Founder and CEO of IONATE, highlighted the timely nature of the company’s work, stating, “Just as national networks, industrial players, and data centers realized how much of their progress depended on modernizing their electrical infrastructure, we are ready to help them do exactly that.” He emphasized the importance of resiliency, flexibility, and efficiency in today’s energy systems, positioning IONATE as a key player in addressing these challenges.

Founded in 2019 by Luca Mezossy-Dona, Matthew Williams, and Roberto Ricci, the company offers a full-stack solution that integrates multiple power system functions into a single, cost-effective device. Their AI-enabled software aims to transform passive, aging grids into decentralized and smart energy platforms tailored to the demands of the modern world.

According to IONATE, its advanced grid solutions offer several advantages, including the ability to handle 33% more distributed energy resources—such as solar panels, electric vehicles, and heat pumps—without additional infrastructure upgrades. Their technology also enables grids to carry 25% more power and reduce energy waste by 6%. These improvements are seen as essential, especially as global electricity consumption is projected to double by 2050, according to data from the International Atomic Energy Agency (IAEA).

As many electricity grids approach the end of their operational lifespans, studies suggest that at least €20.6 trillion will need to be invested in grid modernization by 2050 to meet net-zero targets, per BloombergNEF reports. IONATE believes its unique solution, combining its Hybrid Intelligent Transformer (HIT) and Aurora software platform, is well-positioned to capture a share of this massive market. The HIT device replaces conventional transformers with a smart version capable of real-time power monitoring and problem resolution. Meanwhile, the Aurora platform enhances overall grid performance and renewables integration through AI-driven control and visibility.

The startup is currently collaborating with EDP, one of Europe’s major energy players, with initial deployments focused on Portugal and Spain’s energy networks. Additionally, IONATE has adapted its technology for data centers and continues to gain recognition, including acknowledgment from NATO’s Defence Innovation Accelerator for the North Atlantic (DIANA).

David Grimm, Partner at AlbionVC, commented on the investment, saying, “IONATE is pioneering grid technology that supports the energy and environmental requirements of modern grid infrastructure.” He pointed to the startup’s early traction with key stakeholders as an indicator of the potential long-term impact of its technology.

The funding will allow IONATE to expand its presence across key markets, including its planned entry into the United States, as the company aims to scale its operations globally.