London-based smart grid startup Ionate raised $17m in Series A funding led by AlbionVC to extend operations in Europe and enter the US market.

Feb 05, 2025•10 months ago

Amount Raised

$17 Million

Round Type

series a

LondonOther

Investors

Antares VenturesInno Energy Climate FundJgc Mirai Innovation FundIn Q TelAlbion Vc

Description

Ionate has successfully raised $17 million in Series A funding, which will be used to expand its operations in Europe and enter the US market. The funding round was led by AlbionVC and included new investors such as In-Q-Tel and JGC MIRAI Innovation Fund. Despite a downturn in the overall smart grid sector, startups like Ionate are finding support in this funding round.

Company Information

Company

Ionate

Location

1719 20TH AVENUE

London, England, United Kingdom

About

IONATE is a deep-tech innovator building the technology backbone for smart electricity grids. Its Hybrid Intelligent Transformers equip key electricity players with the data and power flow control they need in an ever-evolving system. This all-in-one device brings comprehensive sensing & monitoring, dynamic voltage-, reactive power - and harmonics control capabilities. But a network of them, coordinated by our digital platform, can transform power systems together with the energy transition.

Related People

2 contacts

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends