Base Power has raised US$1 billion in a series C round led by Addition, with participation from a broad group of existing and new investors including Trust Ventures, Valor Equity Partners, Thrive Capital, Andreessen Horowitz, Ribbit, CapitalG, Lightspeed, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, Waybury, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789.

The Austin-based company operates a network of distributed storage technology, delivering battery-powered home energy to homeowners in Texas.

Base Power has deployed over 100 MWh of residential battery capacity since its founding in 2023.

The company is building its first energy storage and power electronics factory at the former Austin American-Statesman printing press site in downtown Austin, with plans for a second facility.

Base Power recently qualified for Texas’s Aggregated Distributed Energy Resource (ADER) program, allowing its batteries to be bid into the grid.

🔗 Source: Base Power