Base Power secures $1 billion in Series D financing to expand production and market footprint for its home battery systems

Type: Financing · Technology: Storage · Country: United States · Value: $1B · Announced: 2026-08-04

Base Power announced the closing of a $1 billion Series D financing round, bringing its post-money valuation to $13 billion. The funding will be used to expand production of Base Core home battery units at its Austin, Texas factory and increase the company's market footprint beyond Texas and Illinois. The Series D round was led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase’s Strategic Investment Group. Existing investors, including Thrive Capital, a16z, and Lightspeed, also participated in the round, bringing Base Power's total funding to over $2.5 billion since its founding in 2023. The company's operational fleet of batteries has grown to more than 500 MWh over the past year, supporting distributed energy resources for grid operators.

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