Torus Valuation, Funding & Investors

Torus is valued at $1.2B as of September 2025.

See full Torus profile

Last Torus valuation

$1.2B

Undisclosed stage · Sep 2025

Last Torus funding round

$200M

Undisclosed stage · Sep 2025

Cumulative funding Torus raised

$267M

across 2 funding rounds

Key investors in Torus

  • ICONIQ Capital
  • Pelion Venture Partners
  • EPIC Ventures
  • Origin Ventures
  • Element Ventures
  • Magnetar Capital

Torus Overview

About Torus

Torus is a Salt Lake City-based provider of lithium-ion battery storage systems for commercial solar installations. Its modular PowerTower units deliver 100 kW to 2 MW capacities with integrated inverters for grid services. Deployed in Utah and California utility projects, Torus systems support frequency regulation through software controls.


Founded

2021

HQ

United StatesSalt Lake City, UT

Website

torus.co

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.2B (Sep 2025)

Torus Valuation

Torus is currently valued at $1.2B, based on its undisclosed-stage round in September 2025.

The $200M round was led by Magnetar Capital.

Torus valuation by funding round

Torus valuation by funding round
DateStageValuation
Sep 2025Undisclosed stage$1.2B

Torus Funding History

Torus has raised a total of $267M across 2 funding rounds.

Torus' first fundraising round was a $67M Series A in April 2024. The most recent completed round was a $200M undisclosed-stage round in September 2025.

Torus funding rounds

Torus funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2025Undisclosed stageMagnetar Capital (lead)$200M$1.2BTorus, a Utah-based energy storage solutions provider founded in 2021, develops modular hybrid power plants combining flywheels and batteries for grid stability, targeting utilities, data centers, commercial, and industrial customers amid rising AI-driven electricity demand. The company secured a $200 million investment from Magnetar Capital on September 9, 2025, to accelerate deployment of its inertial power plants and expand its 540,000-square-foot GigaOne manufacturing campus in Salt Lake City to over 1 GW production capacity per quarter within three years. Torus has demonstrated traction with over 230 deployments in 2025, managing more than 1 GW of power, and previously raised $67 million in equity and debt led by Origin Ventures. The Magnetar funding supports scaling from its current 40,000-square-foot facility producing 400 MW annually, positioning Torus as a distributed utility platform with 99.9% uptime and millisecond response times. Magnetar's Neil Tiwari joined the board, leveraging the firm's $26 billion AUM experience in data centers and AI infrastructure. Torus also signed an MOU with PacifiCorp for up to 500 MW demand response capacity. The energy storage sector saw $1.7 billion in VC funding across 36 deals in H1/Q2 2025, down 29% year-over-year.
Apr 2024Series AOrigin Ventures (lead); The Larry H. Miller Company; ICONIQ Capital; Element Ventures; EPIC Ventures; Pelion Venture Partners; Cumming Capital Management; Zions First National Bank$67M-Torus, a Utah-based energy solutions company, designs, engineers, and manufactures energy storage and management products for residential, commercial, and large-scale utility sectors, with a focus on enabling communities to become their own renewable energy providers through U.S.-based production. The company secured a $67 million financing round announced around April 3, 2024, comprising new equity, conversion of outstanding notes, and a loan facility, led by Origin Ventures with participation from Epic Ventures, Cumming Capital, The Larry H. Miller Company, Zions Bank (or Zions First National Bank), Pelion Venture Partners, ICONIQ Capital, and others including Remarkable Ventures. The round closed on March 25, 2024, matching the specified approximate date of 03/04/2024 and exact investor list. Torus plans to deploy the funds to expand its energy solutions portfolio into commercial and large-scale utility sectors, hire critical talent, and advance products like flywheel batteries and virtual power plant ecosystems for grid management, demand response, energy arbitrage, and frequency regulation. The company collaborates with Rocky Mountain Power's Wattsmart program and partners with Vivint Smart Home, Sungage, and Banterra Bank. In the past year prior to the round, Torus installed about 2 MWh of home battery systems, primarily for residential customers in Utah. The financing accompanied board expansions with David Bywater, former CEO of Vivint Smart Home and Vivint Solar, and Brent Hill, Managing Director at Origin Ventures, alongside CEO Nate Walkingshaw. Origin Ventures highlighted Torus's reliable, scalable solutions amid rising electricity demand from data centers, AI, EVs, and other factors, positioning it strongly in the U.S. energy storage market, which saw record $9.2 billion in VC/PE funding in 2023 per Mercom Capital.

Who has invested in Torus?

9 investors have backed Torus across its funding rounds, including ICONIQ Capital, Pelion Venture Partners, EPIC Ventures, Origin Ventures, Element Ventures and Magnetar Capital.

Lead investors include Magnetar Capital and Origin Ventures.


Torus Investors

Investors in Torus by funding rounds participated
InvestorHQRoundsRoleFirst check
The Larry H. Miller CompanyUnited StatesSalt Lake City, UT1ParticipantApr 2024
ICONIQ CapitalUnited StatesSan Francisco, CA1ParticipantApr 2024
Element VenturesUnited StatesProvo, UT1ParticipantApr 2024
Origin VenturesUnited StatesChicago, IL1LeadApr 2024
Magnetar CapitalUnited StatesChicago, IL1LeadSep 2025
EPIC VenturesUnited StatesSalt Lake City, UT1ParticipantApr 2024
Pelion Venture PartnersUnited StatesSalt Lake City, UT1ParticipantApr 2024

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Torus Competitors

Torus competitors include listed companies like Sinopec Kantons Holdings and Emerald Horizon, and private ones like Our Next Energy, Jinyuansheng, CMBlu Energy AG and Juwan Technology.

Public and private companies comparable to Torus
CompanyHQStatusRevenueEBITDAValuation
Our Next EnergyUnited StatesDetroit, MIPrivate--$1.2B
Sinopec Kantons HoldingsChinaChinaPublicly listed$84M-$1.2B
JinyuanshengChinaShanghaiPrivate--$1.2B
CMBlu Energy AGGermanyAlzenauPrivate--$1.2B
Juwan TechnologyChinaGuangzhouPrivate--$1.2B
Emerald HorizonAustriaAustriaPublicly listed$259K($523K)$1.2B

Torus Public Comps

Torus is still privately-owned, but its public comps include Sinopec Kantons Holdings, Emerald Horizon, T1 Energy, Camel Group Co, Fluence Energy, Henan Yicheng New Energy, Amprius, FuelCell Energy, Eos Energy Enterprises and JANAF.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Sinopec Kantons Holdings$84M-10.8x---
Emerald Horizon$259K($523K)4824.8x-(2390.4x)-
T1 Energy$755M($210M)2.7x2.2x(9.7x)52.8x
Camel Group Co$2.4B$220M0.5x0.5x5.6x6.1x
Fluence Energy$2.3B($12M)0.5x0.5x(103.9x)(8.7x)
Henan Yicheng New Energy$527M($30M)3.0x-(53.0x)-
Amprius$72M($41M)18.4x10.9x(32.1x)854.4x
FuelCell Energy$158M($149M)6.3x6.7x(6.7x)(12.0x)

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Common questions about Torus

When was Torus founded?Torus was founded in 2021.
Where is Torus headquartered?Torus is headquartered in Salt Lake City, UT, United States.
Is Torus publicly listed?No, Torus is a private, VC-backed company.
What is Torus' valuation?Torus was last valued at $1.2B in its undisclosed-stage round in September 2025.
How much funding has Torus raised?Torus has raised $267M across 2 funding rounds.
What was Torus' last funding round?Torus' last funding round was a $200M undisclosed-stage round in September 2025, led by Magnetar Capital.
Who are Torus' investors?Torus' investors include The Larry H. Miller Company, ICONIQ Capital, Element Ventures, Origin Ventures, Magnetar Capital, EPIC Ventures, Pelion Venture Partners, Cumming Capital Management and Zions First National Bank.
Which companies are comparable to Torus?Companies comparable to Torus include Our Next Energy, Sinopec Kantons Holdings, Jinyuansheng, CMBlu Energy AG, Juwan Technology and Emerald Horizon.

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