Torus Raises $67M to Expand Energy Solutions and Operations
Torus Raises $67M in Funding
Torus Raises $67M in Funding
Key Highlights:
- Funding Round: Torus, an energy solutions company, raised $67 million in funding.
- Investors: Origin Ventures led the round, with participation from Epic Ventures, Cumming Capital, the Larry H. Miller Company, Zions Bank, Pelion, and ICONIQ.
- Expansion Plans: The funds will be used to expand operations, enhance the energy solutions portfolio, and hire new talent.
Torus's Target Market
- Target Market: Torus focuses on the residential, commercial, and large-scale utility sectors.
- Energy Storage and Management: Providing energy storage and management products and solutions for customers in various sectors.
- Virtual Power Plant: Offering a virtual power plant ecosystem that connects energy resources for efficient grid management and enables participation in demand response programs.
What Torus Needs to Buy
- Manufacturing and Engineering Partnerships: Collaborating with partners for manufacturing and engineering energy storage and management products.
- Software Integration: Integrating with software-based energy products and solutions to enhance the energy management system.
- Renewable Energy Partnerships: Partnering with renewable energy generation sources to provide a comprehensive energy solution for customers.