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Base Power closed a $1 billion Series D at a $13 billion valuation on 2026-08-03…

2026-08-03 · 13:30 UTC ·@MollySOShea ·2 min read

Brief

Base Power raised $1 billion in a Series D at a $13 billion valuation and unveiled Base Core, a 40 kWh/20 kW home battery (~3× conventional capacity). Founded in 2023 by Justin Lopas and Zach Dell, the Austin factory (built in six months) targets 4,000 units/week, supports a >500 MWh fleet, and has 200+ MW of utility partnerships; total funding tops $2.5B.

Why it matters

Base Power closed a $1 billion Series D at a $13 billion valuation on 2026-08-03, led by Ribbit (Micky Malka), Addition, Valor Equity Partners, and JPMorganChase Strategic Investment Group; total funding now exceeds $2.5 billion with re-investments from Thrive, a16z, Lightspeed, CapitalG, and others.

Key details

  • The company launched Base Core: a 40 kWh battery with a 20 kW inverter (roughly 3× conventional home battery capacity), provides whole-home backup installed in under an hour, and the deployed fleet tops 500 MWh with over 100 installs per day; batteries are also sited to offset data-center interconnection load.
  • Founded in 2023 by Justin Lopas and Zach Dell, Base Power built Factory 1 in Austin in six months, aims for 4,000 units/week by year-end, maintains a 100% US and Mexico supply chain, and has 200+ MW of utility partnerships including El Paso Electric, Austin Energy, and CoServ.
Source evidence

BREAKING: Base Power Raises $1 Billion Series D, Hitting $13 Billion Valuation & Launching "Base Core"

First-of-its-Kind Home Battery Built in the USA

$2.5B+ in total funding to date

Co-Founder Justin Lopas (@JLopas) gives us a Factory 1 tour in Austin, Texas

Founded in 2023, by Justin & Zach Dell (@ZachBDell). @basepowerco designs, manufactures, & installs home batteries that back up the house & support the grid

Just 10 months after their Series C, this round was led by Micky Malka's Ribbit, Addition, Valor Equity Partners, & JPMorganChase's Strategic Investment Group, with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, & Energy Impact Partners

Base’s major existing investors are re-investing, including Thrive Capital, a16z, Lightspeed, Trust Ventures, CapitalG, & more

"It is so critical to bring manufacturing back to the US, especially for critical infrastructure."

"It's a vertical integration thesis. We can cut down cost. We can reduce lead time. We can change the hardware much more quickly."

We Cover:
› Base Core, 40 kWh with a 20 kW inverter, roughly 3X a conventional home battery
› Whole home backup, installed in under an hour
› Fleet past 500 MWh, over 100 installs a day
› 200+ MW of utility partnerships with El Paso Electric, Austin Energy, & CoServ
› Factory 1 built in 6 months, targeting 4,000 units a week by year end
› 100% US and Mexico supply chain
› Batteries installed around data centers to offset interconnection load

𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Justin Lopas, Co-Founder & COO, Base Power
(01:06) Base Power raises $1B Series D
(02:26) Meet Base Core
(05:42) Demo: Whole-home backup in action
(07:06) How Base Power's business model works
(08:55) Inside Base Power's Factory
(11:28) Why Base Core is 3x larger than other home batteries
(12:05) Inside the manufacturing line
(13:23) Can humanoid robots build batteries?
(14:13) Why Base Power manufactures its own batteries
(15:47) Inside the robotic assembly line
(18:09) How lithium-ion batteries work
(21:40) Scaling production to 4,000 units a week
(22:33) Installing 100+ systems a day
(23:03) COO or Electrician?
(23:53) From oil rigs to Base Power

Video