Span is securing $176 million in Series C funding.

Span, a smart panel company, is currently securing around $176 million from investors through a Series C funding round, with approximately $163 million in equity sold to date.

This funding round comes as Span has been expanding its business in 2025, focusing on partnering with utilities seeking cost-effective solutions to address significant load growth without resorting to building new and expensive infrastructure like poles and wires.

Span’s primary target is utilities situated at the intersection of surging load demand and the transition towards cleaner energy sources, particularly in regions with proactive decarbonization goals such as California. While the company has not extensively publicized its pivot towards this sector, CEO Arch Rao mentioned in an interview in January 2025 that Span is transitioning from focusing solely on home electrification to a broader scope involving infrastructure projects.

In response to the increasing demand for managing the distribution grid, Span introduced the “SPAN Edge” technology designed to operate at the meter level. This innovative solution enables utilities to efficiently handle various devices like electric vehicles, batteries, and heat pumps without necessitating costly grid upgrades.

The development of the SPAN Edge was made possible through Span’s collaboration with Landis+Gyr, which was formalized in 2024. Following the launch of this technology, the partnership expanded, with Landis+Gyr committing to offering the product to its utility customers in North America.

Span’s strategic move aligns with the escalating load growth projections stemming from data centers supporting artificial intelligence, electrification, and domestic manufacturing. By offering a solution focused on cost mitigation, Span aims to address the burgeoning demand, crucial in light of escalating utility bills becoming a contentious issue in the United States.

Highlighting the outdated approach of expanding infrastructure to meet load growth, Rao emphasized the need for utilities to explore alternatives due to the detrimental impact on consumer energy prices. Consequently, Span’s solution presents an appealing alternative for utilities striving to balance load demand with cost-effective solutions.

The company’s shift towards utility-focused projects is evident in its recruitment efforts, with the addition of key positions such as a field service and utility delivery director. This shift signifies a transition from pilot phases to full-scale deployment, complemented by the expansion of its development team in Bangalore, India.

Moreover, Span’s involvement in PG&E’s virtual power plant pilot underscores its commitment to maximizing distributed energy resources. Through this initiative, which involved the coordination of smart panels and residential batteries, Span demonstrated its capability to manage electrical grid limitations effectively.

In summary, Span maintains a dual focus on residential homes and utility customers, offering innovative solutions like the smart panel to monitor and control energy consumption. With significant funding secured through the Series C round, Span is well-positioned to further expand its reach and develop groundbreaking solutions in the energy sector.