Torus, Inc. raised $67 million in venture financing led by Origin Ventures to advance energy storage and energy management platform.

Apr 03, 2024•over 1 year ago

Amount Raised

$67 Million

Salt Lakeoil & energyRenewable EnergyEnergy

Investors

IconiqPelionZions BankThe Larry H. Miller CompanyCumming CapitalEpic VenturesOrigin Ventures

Description

Torus has successfully completed an equity fundraising round, raising a total of $67 million in new equity, conversion of outstanding notes, and a loan facility. The funding round was led by Origin Ventures and also saw contributions from notable institutional investors such as Epic Ventures, Cumming Capital, the Larry H. Miller Company, Zions Bank, Pelion, and ICONIQ. Torus plans to use the funds to deepen its energy solutions portfolio in the commercial and large-scale utility sectors and add critical talent to the team.

Company Information

Company

Torus

Location

Salt Lake, Utah, United States

About

Torus is building America’s next generation of power infrastructure. Its hybrid inertial-battery systems provide the same stabilizing services as conventional power plants — without combustion or chemicals. Torus technology helps utilities, data centers, and industrial and commercial customers strengthen the grid, integrate renewables, and meet rising energy demand. TIME magazine named the Torus Spin one of the Best Inventions of 2024, and the company won a 2025 R&D 100 Award for innovation.

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Funding Insights

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