Overview

• The Series C was led by Addition with participation from CapitalG, Ribbit, Lightspeed, Thrive Capital, Valor Equity Partners, Andreessen Horowitz and others.
• TechCrunch reports the round values the Austin startup at about $3 billion pre-money, citing the New York Times.
• Base Power says it has deployed more than 100 megawatt-hours of residential storage in Texas and currently serves the Austin, Dallas–Fort Worth and Houston areas through homebuilder partnerships.
• The company leases home batteries and uses aggregated capacity for grid sales, with reported upfront fees of $695–$995 and monthly charges of $19 or $29, plus a three-year electricity supply commitment at 8.5 cents per kilowatt-hour before delivery fees.
• Base Power is building its first energy storage and power electronics factory in downtown Austin and plans a second U.S. plant as it prepares to expand beyond Texas.