Base Power raises $1B to deploy home batteries everywhere

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Base Power has built one of the largest battery storage systems in Texas in two years — and now it wants to grow faster.

The Austin-based startup, which had raised $200 million in April, is back with another $1 billion in funding. The Series C round was led by Addition with participation from CapitalG, Elad Gil, Lightspeed, Ribbit, Thrive Capital, and Valor Equity Partners.

The new round values the company at $3 billion pre-money, according to the New York Times.

Base Power has sold more than 100 megawatt-hours worth of its home storage…



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Base Power raises $1B to deploy home batteries everywhere


Base Power has built one of the largest battery storage systems in Texas in two years — and now it wants to grow faster.

The Austin-based startup, which had raised $200 million in April, is back with another $1 billion in funding. The Series C round was led by Addition with participation from CapitalG, Elad Gil, Lightspeed, Ribbit, Thrive Capital, and Valor Equity Partners.

The new round values the company at $3 billion pre-money, according to the New York Times.

Base Power has sold more than 100 megawatt-hours worth of its home storage…



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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