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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

UtahEnergy StorageBiomass EnergySolarManufacturingRenewable 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

Utah, United States

About

Torus is a modern global energy solutions company that designs, engineers, and manufactures energy storage and management products for the residential, commercial, and large-scale utility sectors. The company's mission is to empower communities and individuals to become their own renewable energy providers, thereby making clean, renewable energy storage and management products accessible to all.

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Funding Insights

Based on industry data
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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
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