Base Power raises $1B at $13B valuation, targeting AI grid demand

Base Power raised $1 billion in a Series D financing round. The investment values the Austin-based startup at $13 billion post-money. Ribbit, Addition, Valor Equity Partners, and JPMorganChase's Strategic Investment Group co-led the funding. The company has now secured more than $2.5 billion in total capital.

Base Power launched the Base Core, a home battery manufactured in the United States. The company will use the new funds to scale operations nationally. These battery systems provide residential backup power and add capacity to the electric grid. The expansion targets rising energy demand driven by AI and data centers.