a16z backs Base Power in $200M round for home backup batteries

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In less than a year, Base Power has grown from a stealthy startup to one of the largest battery fleets in Texas.

Now the company has raised $200 million to fund a rapid expansion, including dozens more megawatt-hours of battery storage and plans for a domestic battery factory.

The Series B round was led by Addition, Andreessen Horowitz, Lightspeed Venture Partners, and Valor Equity Partners. Altimeter, Terrain, Thrive Ventures, and Trust Ventures participated.

Backup batteries are nothing new — Tesla has been selling its Powerwall for…



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a16z backs Base Power in $200M round for home backup batteries


In less than a year, Base Power has grown from a stealthy startup to one of the largest battery fleets in Texas.

Now the company has raised $200 million to fund a rapid expansion, including dozens more megawatt-hours of battery storage and plans for a domestic battery factory.

The Series B round was led by Addition, Andreessen Horowitz, Lightspeed Venture Partners, and Valor Equity Partners. Altimeter, Terrain, Thrive Ventures, and Trust Ventures participated.

Backup batteries are nothing new — Tesla has been selling its Powerwall for…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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