IONATE secures 17 million dollars in Series A financing

With the successful Series A round, IONATE plans to bring its Hybrid Intelligent Transformer (HIT) and the Aurora platform to new markets. Utility companies are set to benefit in particular.

London, February 6, 2025 - Deep tech startup IONATE has successfully closed a $17 million Series A funding round. The round was led by AlbionVC, with participation from strategic and institutional investors including In-Q-Tel (IQT), JGC MIRAI Innovation Fund, Santander InnoEnergy Climate Fund and Antares Ventures. Existing investors such as IQ Capital, Zero Carbon Capital and Cycle Group also invested again. IONATE intends to use the financing to launch its Hybrid Intelligent Transformer (HIT) and the associated Aurora platform in various markets and drive forward the company's international expansion.

Smart grid technology for a more efficient energy infrastructure

IONATE develops a hardware-software solution for smart grids. The core product, the Hybrid Intelligent Transformer (HIT), replaces traditional transformers with a smart alternative that collects real-time data and controls power distribution more precisely. The Aurora platform complements this technology with AI-supported analysis and coordination of networks. In view of the increasing demands placed on the electricity grid by renewable energies, electric vehicles and energy-intensive industries, IONATE's solution offers a way to use grid capacities more efficiently and improve the resilience of the infrastructure.

First applications in Europe - expansion to Asia and the USA planned

The first networks in Portugal and Spain, operated by the energy group EDP, are set to benefit from the technology as early as this year. At the same time, IONATE is working on a broader market launch in industry and data centers - sectors in which a stable and efficient power supply is crucial. With the new financing, the company also plans to enter the US and Asian markets in order to establish its technology globally.

Investors see great potential for the energy sector

The investors involved emphasize the importance of IONATE's technology for the further development of the energy infrastructure. AlbionVC sees the innovation as a response to the increasing demands of modern power grids and emphasizes the long-term opportunities for a sustainable energy supply. In-Q-Tel emphasizes the security-relevant aspect and sees the technology as a solution for improving grid stability, especially for critical infrastructures such as data centers and power plants. The Santander InnoEnergy Climate Fund emphasizes that the growing demand for renewable energy is putting increasing strain on power grids and that IONATE's smart transformers can help to make better use of existing infrastructure.

The start-up was founded in 2019 and develops solutions for smart grids. The Hybrid Intelligent Transformer (HIT) enables more efficient energy distribution and opens up new opportunities for integrating renewable energy. The Aurora platform complements the hardware with an AI-supported control system.