Chicago Utility Startup Secures $17 Million in Funding
Switched Source will use the new capital to expand its Chicago-based manufacturing and operations.
Updated on Oct. 16, 2026 in Utilities
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Grid-enhancing technology firm Switched Source has raised over $17 million in a funding round led by Cubit Capital. The company plans to use the investment to scale production of its Phase-EQ technology for power distribution systems.
Why it matters
As utilities grapple with surging electricity demand, scaling new grid-enhancement solutions is critical to maintaining system reliability. This capital injection allows Switched Source to increase manufacturing capacity to meet that growing adoption.
The firm secured more than $17 million in a round led by Cubit Capital, with participation from major industry players including ABB and Southwire Company.
The players
Switched Source
A Chicago-based technology developer specializing in grid-enhancing equipment for utility distribution.
Cubit Capital
An investment firm that led the recent funding round for the Chicago-based utility technology provider.
The details
The investment supports the mass production of Phase-EQ, a specialized technology designed to optimize utility distribution networks. To accommodate this growth, the company is actively expanding its Chicago manufacturing facilities and hiring for new supply chain positions.
Timeline
Switched Source has operated since 2016.
Market Landscape
This funding follows a broader industry trend toward the ongoing modernization of North American power distribution grids. The expansion positions Switched Source to compete more effectively as utilities seek hardware solutions to manage rising demand.
Local residents and utility customers may see improvements in grid reliability as regional power providers adopt new technology. The company's expansion also creates new manufacturing and quality-focused job opportunities within the city.
The takeaway
Reliable power delivery increasingly depends on modular hardware upgrades that can be integrated into existing distribution networks. Companies like Switched Source play a vital role in enabling utilities to respond to energy load changes without requiring total system overhauls.
Further reading
For additional context on local infrastructure developments, browse the 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?
