Cool Company Raises · $1.0B · Series D · www.basepowercompany.com

Base Power raises a $1.0B Series D round

Base Power raised $1B in Series D funding at a $13B valuation, bringing total funding to over $2.5B. The Austin-based company installs home battery systems in customers' backyards on a subscription model — it retains ownership of the batteries, charges an install fee plus a monthly rate, gives homeowners outage backup, and sells stored electricity back to the grid at peak demand. It operates in Texas and Illinois, installs roughly 100 batteries a day, and has utility partnerships totalling over 200 MW. Alongside the round it launched Base Core, a 39.2 kWh home battery built in the United States.