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FINWIRES

Base Power Secures $1 Billion Financing to Launch Domestic Battery

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Base Power has secured a $1 billion series D financing at a $13 billion post-money valuation, it said in a statement on Monday, that coincides with the launch of its home battery system, Base Core, now in production in Austin, Texas.

The battery product comes in 39.2 kilowatt-hour or 78.4 kWh variants, designed and manufactured in the US and engineered for rapid scale-up.

The financing is led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase's Strategic Investment Group with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, and Energy Impact Partners.

The statement said that the company has raised $2.5 billion in capital so far and it will be put towards expanding the delivery of Base Core battery systems, national expansion and hiring of personnel.

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