Base Power Raises $1B Series D at $13B Valuation to Expand Home Battery Network

Base Power Secures $1 Billion Series D

Austin-based energy storage startup Base Power has raised $1 billion in Series D funding, reaching a $13 billion post-money valuation, as it expands its distributed home battery network across the United States.

The round was led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase's Strategic Investment Group, with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, Energy Impact Partners, Thrive Capital, Andreessen Horowitz (a16z), Lightspeed, Trust Ventures, CapitalG, and others.

Building a Distributed Energy Network

Founded by Zach Dell, Base Power installs residential battery systems that provide backup power to homeowners while helping stabilize the electrical grid during periods of peak demand.

Unlike traditional energy storage companies that build large battery farms, Base Power deploys batteries directly at customers' homes and manages them as a distributed energy network.

The company currently operates in Texas and Illinois.

New Home Battery Launch

Alongside the funding announcement, Base Power introduced Base Core, its latest home battery system.

Built at the company's manufacturing facility in Austin, Texas, Base Core stores 39.2 kWh of electricity, allowing homeowners to install one or two battery units depending on their energy needs.

The batteries provide backup power during outages while enabling Base Power to supply stored electricity back to the grid when demand increases.

Rapid Deployment

Base Power says it has installed more than 500 megawatt-hours of energy storage and is currently deploying approximately 100 batteries per day, with plans to double that installation rate before the end of the year.

Rather than requiring homeowners to purchase batteries outright, the company offers them through a subscription-based model that combines installation, monthly service, and electricity pricing.

Funding to Scale Operations

The new capital will support manufacturing expansion, faster battery deployments, and continued growth as electricity demand increases due to AI infrastructure, electrification, and grid modernization.

By distributing battery storage across thousands of homes, Base Power aims to strengthen grid reliability while providing homeowners with resilient backup power.