Base Power Raises $1B Series D, Second Billion-Dollar Round in Ten Months

Base Power closed a $1 billion Series D on August 3, 2026, led by Ribbit, Addition, Valor, and JPMorganChase's Strategic Investment Group, with CapitalG, Thrive, a16z, and Coatue joining. A $1 billion Series C in October 2025 brings total funding to $2 billion in under a year. The Austin company, co-founded by Zach Dell, has deployed over 500 MWh of residential battery storage across Texas and Illinois.