A startup promising to modernise electrical power grid has raised $17m (£13.6m) in a fresh funding round.

Founded in 2019, London-based IONATE has built a full stack solution that consolidates multiple power system functions into a single, cost-effective device, addressing the shortcomings of traditional offerings.

The firm’s hardware Hybrid Intelligent Transformer replaces old transformers with a smart equivalent that detects, analyses, and resolves power disturbances in real time, while its Aurora software platform unlocks network efficiency, renewables hosting capacity, and achieves true smart grid capabilities with AI-enabled control. 

IONATE claims the unique hardware-software combination allows it to offer real-time control and visibility at a lower cost, making it an all-in-one solution for utilities, manufacturers and data centers.

The Series A round was led by London-based AlbionVC and joined by In-Q-Tel, JGC MIRAI Innovation Fund, and institutional investors Santander InnoEnergy Climate Fund and Antares Ventures.

Matthew Williams, IONATE’s Founder & CEO, said: “ 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.”

The company has already struck a deal with energy giant EDP, with Portugal and Spain networks being the first to benefit. It has also scaled its solution for data centers and continues to receive industry recognition including from NATO’s Defence Innovation Accelerator for the North Atlantic.

Electricity consumption expected to double by 2050, according to a report by the International Atomic Energy Agency.

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