About Tantalus
Tantalus is a company based in Raleigh (United States) founded in 1989.. Tantalus has raised $58.7 million across 7 funding rounds from investors including PenderFund Capital Management, Connecticut Innovations and Vareco Holdings. The company has 134 employees as of December 31, 2024. Tantalus has completed 2 acquisitions, including Congruitive and Energate Inc. Tantalus offers products and services including TRUConnect AMI, TRUFlex Load+DER Management, TRUGrid Automation, TRUSync Grid Data Management, and TRUSense Gateway. Tantalus operates in a competitive market with competitors including Landis+Gyr, Esyasoft, Kamstrup, Beacon Power Services and Kalki Communication Technologies, among others.
- Headquarter Raleigh, United States
- Employees 134 as on 31 Dec, 2024
- Stage Public
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Tantalus Systems Holding Inc
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Annual Revenue
$42.19 M (USD)6.71as on Dec 31, 2024
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Net Profit
$-2.5 M (USD)-58.27as on Dec 31, 2024
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EBITDA
$466.65 K (USD)210.05as on Dec 31, 2024
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Total Equity Funding
$58.7 M (USD)
in 7 rounds
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Latest Funding Round
$366.46 K (USD), Post-IPO
May 20, 2024
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Investors
PenderFund Capital Management
& 7 more
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Employee Count
134
as on Dec 31, 2024
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Investments & Acquisitions
Congruitive
& 1 more
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IPO & Listings of Tantalus
Tantalus is a publicly listed company on the TSX with ticker symbol GRID in Canada, operating in the Industrial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Tantalus
Tantalus offers a comprehensive portfolio of products and services, including TRUConnect AMI, TRUFlex Load+DER Management, TRUGrid Automation, TRUSync Grid Data Management, and TRUSense Gateway. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
IoT network for smart meters and utility device connectivity.
System for managing residential and commercial loads and DERs.
AI applications for detecting grid anomalies and asset failures.
Platform for integrating data across utility devices and systems.
Device for AMI, grid optimization, and DER integration support.
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Funding Insights of Tantalus
Tantalus has successfully raised a total of $58.7M across 7 strategic funding rounds. The most recent funding activity was a Post-IPO round of $366.46 thousand completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Post-IPO — $366,460
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First Round
First Round
(01 Sep 2004)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2024 | Amount | Post-IPO - Tantalus | Valuation |
investors |
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| Feb, 2017 | Amount | Series B - Tantalus | Valuation | Connecticut Innovations , Vareco Holdings |
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| Dec, 2016 | Amount | Debt – Conventional - Tantalus | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Tantalus
Tantalus has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include PenderFund Capital Management, Connecticut Innovations and Vareco Holdings. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital services for biotech, IT, and innovative sectors in Connecticut.
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Founded Year | Domain | Location | |
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A single family office focused on shipping and energy infrastructure.
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Founded Year | Domain | Location | |
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Redpoint Ventures is engaged in venture capital investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Tantalus
Tantalus has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Congruitive and Energate Inc. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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App-based demand response and energy management solutions are provided.
|
2004 | ||||
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Power distribution is managed and controlled through specialized solutions.
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1991 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Tantalus
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Tantalus Comparisons
Competitors of Tantalus
Tantalus operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Landis+Gyr, Esyasoft, Kamstrup, Beacon Power Services and Kalki Communication Technologies, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
End-to-end energy management solutions are provided for utilities worldwide.
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| domain | founded_year | HQ Location |
AI-powered solutions for energy grid modernization are provided.
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| domain | founded_year | HQ Location |
Energy and water metering systems are manufactured and marketed globally.
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| domain | founded_year | HQ Location |
Web-based building energy management software solutions are provided.
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| domain | founded_year | HQ Location |
Smart-grid solutions are provided for energy generation optimization.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Tantalus
Frequently Asked Questions about Tantalus
When was Tantalus founded?
Tantalus was founded in 1989 and raised its 1st funding round 15 years after it was founded.
Where is Tantalus located?
Tantalus is headquartered in Raleigh, United States. It is registered at Raleigh, North Carolina, United States.
Is Tantalus a funded company?
Tantalus is a funded company, having raised a total of $58.7M across 7 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $5.1M, raised on Sep 01, 2004.
How many employees does Tantalus have?
As of Dec 31, 2024, the latest employee count at Tantalus is 134.
What is the annual revenue of Tantalus?
Annual revenue of Tantalus is $42.19M as on Dec 31, 2024.
What does Tantalus do?
Tantalus Systems is a provider of multi-purpose smart grid solutions platform for advanced metering, demand response, and distribution automation. Offers TUNet, a WANLANHAN communications system that enables electric, water, and gas municipal and cooperative utilities to automate processes, improve business operations, and deliver customer services. It also works on multi-commodity networks like IP based, Mesh and Star, etc.
Who are the top competitors of Tantalus?
Tantalus's top competitors include Landis+Gyr, Esyasoft and Beacon Power Services.
What products or services does Tantalus offer?
Tantalus offers TRUConnect AMI, TRUFlex Load+DER Management, TRUGrid Automation, TRUSync Grid Data Management, and TRUSense Gateway.
Is Tantalus publicly traded?
Yes, Tantalus is publicly traded on TSX under the ticker symbol GRID.
How many acquisitions has Tantalus made?
Tantalus has made 2 acquisitions, including Congruitive, and Energate Inc.
Who are Tantalus's investors?
Tantalus has 8 investors. Key investors include PenderFund Capital Management, Connecticut Innovations, Vareco Holdings, Redpoint Ventures, and Altira Group.
What is Tantalus's ticker symbol?
The ticker symbol of Tantalus is GRID on TSX.
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