Energy storage startup Base Power has secured $1 billion in a Series D funding round, pushing its valuation to $13 billion. Unlike traditional companies that build large storage facilities on massive tracts of land, Base Power installs high-capacity batteries directly in residential backyards.
This decentralized approach aims to alleviate growing pressures on the electrical grid, exacerbated by widespread electrification and the booming construction of AI data centers. Alongside the funding, the company unveiled its new Base Core home battery system and utilizes a subscription model to make grid-backup solutions more accessible to households.
- Raised $1 billion in Series D funding at a $13B valuation
- Focuses on backyard home batteries instead of large land plots
- Helps stabilize power grids strained by AI data centers and electrification
- Unveiled the new Base Core battery with a 39.2 kWh capacity
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