# Torus

> US maker of distributed energy storage and modular AI inference infrastructure; Foundry sites combine computing, power management, cooling and connectivity.

## Why it is interesting

Torus announced $500M in growth capital on November 11, 2026 led by Magnetar to expand its Foundry modular AI-inference product and Utah manufacturing. Foundry targets available transformer headroom rather than new megacampuses: a useful infrastructure bet but announced 12–16-week deployment times and 47,000 GPUs by 2027 are vendor targets. The new financing's debt/equity composition and valuation were not disclosed, and previously reported $67M in 2024 included loan facilities and converted notes; $767M cumulative funding must NOT be called pure equity.

## Profile

- **Latest funding:** Growth capital (reported Series C; equity-only portion undisclosed) — $500M growth capital — equity/debt structure undisclosed (November 11, 2026)
- **Latest known valuation:** Not publicly disclosed
- **Total disclosed equity funding:** Not publicly disclosed
- **Stage:** growth
- **Status:** private
- **Industries:** N/A
- **Coverage:** full
- **Last updated:** 2026-11-14
- **Latest funding investors:** Magnetar, ICONIQ, Origin Ventures, Ridgeline Partners, Trinity Capital

## Key facts

- November 11, 2026: company announces $500M growth capital led by Magnetar; financing structure and valuation undisclosed. Independent DCD describes Series C.
- Official Foundry launch: 1–20 MW inference sites using existing transformer capacity with Torus Reserve storage; company targets 12–16 weeks from signed contract to operational use.
- Three offerings: powered shell without GPUs, bare-metal units with GPUs, and single-tenant enterprise inference; specific prices and contracts undisclosed.
- Issuer identifies Hydra Host and another AI cloud as early customers, says thousands of GPUs running; aims for more than 47,000 by end-2027 (future goal).
- 2024 $67M package combined equity, note conversions and loan facility; 2025 $200M investment form unspecified. Company $767M cumulative includes differing capital types, not verified pure equity.

## Funding history

- Growth capital (reported Series C; equity-only portion undisclosed) · $500M growth capital — equity/debt structure undisclosed · November 11, 2026
  Source: https://www.torus.co/news/torus-launches-modular-ai-infrastructure-foundry
- Growth investment (equity-only portion undisclosed) · $200M investment — equity/debt structure undisclosed · September 9, 2025
  Source: https://www.torus.co/news/torus-raises-200-million-from-magnetar-deployment-of-modular-power-plants
- Mixed financing package (includes note conversion and loan facility; equity-only size unknown) · $67M package — new equity, converted notes and loan facility · April 3, 2024
  Source: https://www.torus.co/news/torus-secures-financing-to-advance-energy-storage

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** November 14, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/startup/torus