Base Power secures $1 billion Series D, launches $13 billion‑valued home battery

Base Power announced a $1 billion Series D financing round that brings its post‑money valuation to $13 billion and lifts total capital raised to more than $2.5 billion. The round was led by Ribbit, Addition, Valor Equity Partners and JPMorgan Chase’s Strategic Investment Group, with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, Energy Impact Partners and existing backers such as Andreessen Horowitz and CapitalG.

Using the new funds, the Austin‑based company began shipping its first U.S.–made home battery, the Base Core. The lithium‑iron‑phosphate system is offered in 39.2 kWh or 78.4 kWh configurations, can power a typical home for up to 36 hours, and installs in under an hour. It switches to battery power within 50 milliseconds, operates from –22 °F to 122 °F, and carries an IP67 water‑submersion rating. The battery is sold as a service – a $695 installation fee and $19 monthly membership – and is integrated into Base’s virtual power plant to support the grid when demand spikes.

Base Core is produced at the company’s Factory 1 in Austin, with thousands of units manufactured each month. The company plans to expand the product to additional U.S. markets beyond Texas and Illinois and has already partnered with utilities such as El Paso Electric, Austin Energy and CoServ.