Base Power has raised $1 billion in Series D funding at a $13 billion post-money valuation as it expands its network of residential batteries. The Austin-based company also introduced Base Core, a US-made home battery that stores 39.2 kilowatt-hours of electricity and can provide backup power for about 36 hours in an average home.
The latest investment follows Base Power’s previous $1 billion funding round less than a year ago and brings its total funding above $2.5 billion. The company has installed more than 23,000 batteries across Texas and the Chicago area, providing over 550 megawatt-hours of distributed energy storage.
Base Core Increases Residential Storage Capacity
Base Core is manufactured at the company’s facility in Austin, Texas, and replaces its earlier battery modules, which offered 25 kilowatt-hours of storage each. Customers can receive either one 39.2-kilowatt-hour unit or two units for a combined capacity of 78.4 kilowatt-hours.
The modular system is designed to take less than an hour to install. Base Power said in its official announcement that the battery can provide backup electricity during outages while supporting local power grids during periods of heavy demand.
Base currently installs about 100 batteries each day and plans to double that rate by the end of 2026. At the current pace, the company is adding roughly eight megawatt-hours of storage daily.
Subscription Model Reduces Upfront Costs
Unlike companies that sell home batteries directly for thousands of dollars, Base retains ownership of its equipment and charges customers an installation fee and monthly subscription. In the Houston area, customers can pay $695 for the installation of one battery, followed by a $19 monthly fee and electricity charges based on usage.
When the grid is operating normally, Base combines the capacity of batteries installed at different homes and sells stored electricity during periods of high demand. Customers regain access to their batteries for backup power when an outage occurs.
In regulated electricity markets, Base works with utility companies to install batteries where additional capacity could reduce pressure on the local network. The company currently operates in Texas and Illinois and plans to enter more US states before expanding internationally.
Funding Supports Manufacturing and Expansion
Ribbit Capital, Addition, Valor Equity Partners and JPMorganChase’s Strategic Investment Group led the Series D round. Other participating investors included Altimeter, Coatue, D1 Capital Partners, Energy Impact Partners, Thrive Capital, Andreessen Horowitz, Lightspeed, Trust Ventures and CapitalG.
Base Power was co-founded in 2023 by chief executive Zach Dell and chief operating officer Justin Lopas. Michael Dell, Zach Dell’s father and the chief executive of Dell Technologies, did not participate in the funding round.
The company is increasing production as US electricity demand rises due to data centre construction, AI computing and wider electrification. Base Power’s residential approach allows it to add storage in smaller locations without securing the large sites and grid connections required for conventional battery projects.
Featured image credits: Houston Chronicle via Getty Images
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