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- Torus
Torus Valuation, Funding & Investors
Torus is valued at $1.2B as of September 2025.
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
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
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$1.2B (Sep 2025)
Sectors
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
| Date | Stage | Valuation |
|---|---|---|
| Sep 2025 | Undisclosed 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2025 | Undisclosed stage | Magnetar Capital (lead) | $200M | $1.2B | Torus, 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 2024 | Series A | Origin 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, raised a $67 million financing round announced in early April 2024, led by Origin Ventures. The package combined new equity, the conversion of outstanding notes and a loan facility. Epic Ventures, Cumming Capital, The Larry H. Miller Company, Zions Bank, Pelion Venture Partners and ICONIQ Capital also took part, and the round closed in late March 2024. Origin Ventures described it as a Series A financing. Torus designs, engineers and manufactures energy storage and management products, including flywheel batteries and a virtual power plant platform for grid management, demand response, energy arbitrage and frequency regulation. It sells to residential, commercial and utility customers, produces in the United States, and works with Rocky Mountain Power's Wattsmart program and with partners including Vivint Smart Home, Sungage and Banterra Bank. The company said it installed about 2 MWh of home battery systems in the year before the round, mainly for residential customers in Utah. Torus planned to use the proceeds to extend its portfolio into commercial and large-scale utility markets and to hire key talent. The financing came with board changes: David Bywater, former chief executive of Vivint Smart Home and Vivint Solar, and Brent Hill, managing director at Origin Ventures, joined the board alongside chief executive Nate Walkingshaw. Origin Ventures pointed to rising electricity demand from data centers, artificial intelligence and electric vehicles as the backdrop for the investment. |
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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Lead | Apr 2024 | ||
| 1 | Lead | Sep 2025 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialTorus Competitors
Torus competitors include listed companies like Camel Group Co and Amprius, and private ones like Our Next Energy, Jinyuansheng, CMBlu Energy AG and Juwan Technology.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.2B | - | ||
| Publicly listed | $2.4B | $221M | $1.2B | 0.5x | ||
| Publicly listed | $72M | ($41M) | $1.3B | 9.2x |
Torus Public Comps
Torus is still privately-owned, but its public comps include Camel Group Co, Amprius, Sinopec Kantons Holdings, Amara Raja Energy, ADI Global Distribution, Emerald Horizon, Liontown, Henan Yicheng New Energy, FuelCell Energy and JANAF.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.4B | $221M | 0.5x | 0.5x | 5.3x | 5.9x | |||
| $72M | ($41M) | 16.5x | 9.2x | (28.8x) | 440.2x | |||
| $84M | - | 11.9x | - | - | - | |||
| $1.4B | $193M | 0.9x | 0.9x | 6.9x | 7.7x | |||
| $4.8B | ($54M) | 0.5x | - | (44.8x) | - | |||
| $251K | ($508K) | 5370.7x | - | (2660.9x) | - | |||
| $449M | $102M | 3.0x | 2.6x | 13.2x | 9.8x | |||
| $531M | ($30M) | 2.8x | - | (49.4x) | - | |||
This data is available for Pro users. Sign up to see all Torus competitors and their valuation data. Start Free Trial | ||||||||
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, Jinyuansheng, CMBlu Energy AG, Juwan Technology, Camel Group Co and Amprius. |
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