Switched Source Secures $17 Million to Scale Production
The Chicago-based utility technology firm is expanding its manufacturing capacity to meet growing grid equipment demand.
Updated on Oct. 16, 2026 in Utilities
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Chicago-based grid technology firm Switched Source has secured over $17 million in a new funding round led by Cubit Capital. The company plans to use the capital to expand manufacturing capacity and increase headcount in Chicago to meet growing utility demand for its Phase-EQ power distribution technology.
Why it matters
Utilities across North America are increasingly investing in grid-enhancing technologies to manage rising electricity demand and improve existing infrastructure. This influx of capital allows Switched Source to scale production, directly impacting supply chain lead times and availability for regional power providers.
Switched Source secured more than $17 million in its latest investment round led by Cubit Capital, with participation from ABB, Emerald Technology Ventures, Red Cedar Ventures, Southern States, and Southwire Company. The capital will support the scaling of Phase-EQ technology production.
The players
Switched Source
A Chicago-based manufacturer of grid-enhancing technology for the utility industry.
Cubit Capital
An investment firm that led the recent $17 million funding round for Switched Source.
ABB
A multinational corporation that provides electrification and automation technologies to power and utility sectors.
Southwire Company
A major North American producer of wire and cable solutions for the energy and distribution markets.
The details
The funding is earmarked for increasing manufacturing capacity to accelerate the rollout of Phase-EQ, a technology that helps utility operators manage power flow across existing distribution systems. To support this growth, the company is prioritizing the hiring of staff in quality control and supply chain management. This operational shift aims to enable faster deployment of grid-enhancing hardware as demand for more resilient power distribution infrastructure increases.
Timeline
2016: Switched Source began developing its power distribution technology.
Market Landscape
This development aligns with the broader industry trend of prioritizing grid-enhancing technologies to accommodate rising electricity demand without immediate, high-cost infrastructure replacements. It signals growing institutional confidence in decentralized hardware solutions as a viable strategy for long-term grid stability.
Operators in the utility and energy distribution sectors should monitor potential shifts in equipment lead times as the company scales manufacturing capacity. Procurement teams may see expanded availability of Phase-EQ technology as the firm adds necessary quality and supply chain personnel to support its growth.
The takeaway
The move underscores the growing priority on upgrading existing utility systems through modular, technology-driven enhancements rather than heavy capital construction. Managers should track regional utility project pipelines to identify if and when these local hardware scaling efforts shift competitive pricing for distribution equipment.
Further reading
For broader trends affecting infrastructure, see our Utilities section.
Source note: This article includes information reported by Vcnewsdaily.
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Do you support prioritizing new grid-enhancing technology over traditional infrastructure upgrades for your local power system?
