Base Power

Energy · Climate Tech · Hardware

Milestone

Base Power raises $1B Series D at $13B valuation, unveils Core battery

The home-battery maker turns backyards into grid capacity by leasing units instead of selling them outright.

• Base Power raised a $1 billion Series D at a $13 billion post-money valuation, led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase's Strategic Investment Group.
• Founded in 2023 by Zach Dell and Justin Lopas, the Austin company installs and owns home batteries, then uses the networked fleet as a virtual power plant that sells power back to the grid during demand spikes.
• Alongside the raise, Base launched Base Core, a 39.2 kWh (78.4 kWh in dual-unit setups) home battery that installs in under an hour and can back up a house for up to 36-72 hours.
• Base has installed more than 23,000 batteries across Texas and Illinois, grown its fleet past 500 MWh, and runs about 100 installations a day, a pace it plans to double by year-end.
• The valuation more than tripled from $4 billion at its October 2025 Series C, and total funding now exceeds $2.5 billion just three years after founding.
• As AI data centers strain power grids and utilities struggle to add generation fast enough, Base is betting that distributed home batteries can add capacity faster than new power plants can be built.