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.