IONATE, a London-based deep tech company, has raised $17 million in a Series A funding round to accelerate the modernization of outdated electrical grids. The funding round was led by AlbionVC, with participation from In-Q-Tel (IQT), JGC MIRAI Innovation Fund, Santander InnoEnergy Climate Fund, and Antares Ventures, alongside existing backers IQ Capital, Zero Carbon Capital, and Cycle Group.
The global electricity grid is at a crossroads. With energy consumption expected to double by 2050, legacy power infrastructure is struggling to keep up. According to BloombergNEF, grid modernization will require an estimated $21 trillion in investment by mid-century to accommodate growing demand from renewable energy, electric vehicles (EVs), and high-power industries like AI and data centers.
IONATE is entering this space with a first-of-its-kind smart transformer technology, designed to make electricity distribution more stable, efficient, and adaptable to modern energy needs. Its solution replaces outdated transformers with AI-driven equivalents, enabling real-time data analytics and power flow control.
With fresh capital in hand, IONATE is focusing on two major areas: scaling commercialization and expanding into new markets. The company’s flagship Hybrid Intelligent Transformer (HIT), coordinated by its Aurora software platform, is already being deployed in Portugal and Spain through a partnership with energy giant EDP. The investment will allow the company to ramp up production and prepare for a major launch in the US.
Beyond geographic expansion, IONATE will use the funding to enhance its technology stack, refining its AI-driven energy management tools to further improve grid resilience, efficiency, and renewable energy integration.
Founded in 2019 by Matthew Williams, Luca Mezossy-Dona, and Roberto Ricci, IONATE has rapidly established itself as a pioneer in power grid modernization. The company’s full-stack approach—integrating both hardware and software—sets it apart in an industry traditionally focused on piecemeal upgrades rather than holistic transformation.
At the helm is Matthew Williams, a seasoned expert in electrical and control engineering, whose leadership has been instrumental in securing key partnerships and industry recognition. IONATE’s commitment to decarbonization, energy efficiency, and grid reliability makes it a critical player in the transition toward a more sustainable energy future.
IONATE’s backers include some of the most influential investors in deep tech and energy innovation:
IONATE’s latest funding round is more than just a financial milestone—it’s a step toward modernizing global power infrastructure. By developing AI-driven, real-time energy management solutions, the company is helping to solve some of the most pressing challenges facing power grids, industrial energy consumers, and renewable energy integration.
As demand for electricity rises and grid stability becomes a growing concern, IONATE’s innovations could play a pivotal role in the transition to a smarter, cleaner, and more resilient energy future.
