Base Power closes $1 billion Series C, plans downtown Austin battery factory
The Austin home-battery company raised one of the largest private rounds in city history and is building its first factory on the old Austin American-Statesman printing site.
AUSTIN — Base Power, the residential energy company that pairs home batteries with its own retail electricity service, has raised $1 billion in Series C funding, putting it among the largest private capital raises ever recorded by an Austin-based startup.
The round, announced in October, was led by Addition. Existing backers re-upped across the board, including Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter and angel investor Elad Gil. New investors included Ribbit, Alphabet's CapitalG, Lowercarbon Capital and BOND.
Base says it has deployed more than 100 megawatt-hours of residential battery capacity in under two years. The company plans to use the capital to build its first energy storage and power electronics factory at the former Austin American-Statesman printing press site downtown.
Why it matters
A ten-figure private round for a hardware company signals that investors view Texas grid stress as a durable, buildable market rather than a policy gamble. By onshoring manufacturing in Austin, Base is betting it can scale battery production without leaning on overseas supply chains — and is creating a high-profile anchor for the city's energy-hardware cluster.
The company has also begun expanding service beyond Central Texas, with a push into the Houston market.
Reported by Next in Austin. Based on reporting from BusinessWire.
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