Base Power closed a $1 billion Series D at a $13 billion post-money valuation on August 3, 2026, and launched the Base Core, a 39.2 kilowatt-hour home battery manufactured at its Austin factory. The round brings the Texas company's total raised past $2.5 billion, TechCrunch reported — and it arrives less than a year after Base raised its previous $1 billion round in October 2025.
Who is funding it
The Series D was led by Ribbit, Addition, Valor Equity Partners and JPMorganChase's Strategic Investment Group. Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, Energy Impact Partners, Thrive Capital, Andreessen Horowitz, Lightspeed, Trust Ventures and CapitalG also participated. Base Power was co-founded by chief executive Zach Dell.
Two of those names — Valor Equity Partners and JPMorganChase's Strategic Investment Group — also co-led Hadrian's $1.37 billion Series D on August 6, alongside a16z and CapitalG.
What the product is
The Base Core stores 39.2 kilowatt-hours, and customers can install one or two units. Electrek reports a single unit delivers up to 36 hours of backup. Base sells it as a utility service rather than as hardware: in Houston, installation of a single battery costs $695 with a $19 monthly subscription and electricity at 13.1 cents per kilowatt-hour. The company earns on the other side by discharging the fleet back to the grid when demand peaks.
Base is now producing thousands of the units each month at its Austin plant, according to pv magazine USA. It has more than 500 megawatt-hours installed and is putting in roughly 100 batteries a day — about 8 megawatt-hours daily — with a stated goal of doubling that installation rate by the end of the year. The Base Core is available in Texas and Illinois, and the new capital is aimed at expanding beyond those two markets.
The capital backdrop
Two other billion-dollar rounds closed in the same window. Baseten raised a $1.5 billion Series F at up to a $13 billion valuation in July, and Valar Atomics raised $1 billion at $6 billion on August 5.
Another ten-figure round landed at a comparable valuation in August: Thrive Holdings raised $2 billion at a $12 billion valuation, backed by SoftBank, D1 Capital Partners and Altimeter Capital.
Source: TechCrunch
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