Switched Source secures more than $17M to expand grid-capacity technology
Sourced news brief · See the publication date above and original source below.
Chicago-based Switched Source announced on October 13 that it secured more than $17 million in funding led by Cubit Capital, with participation from ABB, Emerald Technology Ventures, Red Cedar Ventures, Southern States, Southwire and other strategic investors.
The company develops Phase-EQ, an automated power-flow controller intended to help electric utilities balance distribution circuits and add capacity to infrastructure already in service. Switched Source says the financing will expand manufacturing and testing, accelerate utility deployments and support hiring in manufacturing, quality and supply-chain roles at its Chicago headquarters.
Switched Source reports more than 150,000 run hours across twelve utility service areas and field data showing 10% to 25% increases in load-serving capacity. Those performance figures are company-reported rather than independently established here. The announcement describes “more than $17 million” of funding but does not assign a conventional venture stage, so this brief does not recast it as a precisely $17 million round or a named series.