Base Power Company
About Base Power Company
Base Power Company is a Battery Storage startup based in Austin, Texas, United States that has raised $1.3B in venture capital across 4 funding rounds since 2023. The company reached Growth stage in May 2024 with a $68M round led by Thrive Capital. Base Power Company's investor base includes 10 institutional funds, with Addition leading the most recent equity round.
Base Power Company installs large home battery systems (25–50 kWh) at residential properties and operates as a Retail Electric Provider, selling electricity to customers at below-utility rates rather than selling hardware outright. The company charges batteries when wholesale power prices are low and dispatches stored energy to the grid during peak demand periods, operating a distributed virtual power plant that earns revenue from ERCOT grid-balancing services while passing savings to homeowners. Founded in August 2023 by Zach Dell (former Thrive Capital investor), Justin Lopas (ex-SpaceX manufacturing engineer, ex-Anduril Head of Manufacturing), and Jared Greene (ex-SpaceX Starlink engineer), Base Power has deployed over 500 MWh of battery storage across Texas with 20,000+ homes served in Austin, Dallas-Fort Worth, and Houston. In June 2026, the company expanded into Illinois at pricing 25% below utility ComEd rates. The company holds a Texas PUCT license (#10338) and projected approximately $70 million in revenue for 2026. Base Power has raised over $1.268 billion across four rounds, most recently closing a $1 billion Series C in October 2025 led by Addition at a $4 billion post-money valuation — one of the largest clean energy startup rounds in US history.
Base Power Company Funding Rounds Timeline
4 rounds · $1.3B raised · since 2023
| Round | Date | Amount | Valuation | Lead investor | Co-investors |
|---|---|---|---|---|---|
| Series A | May 2024 | $68M | — | Thrive Capital | Valor Equity Partners |
| Series B | April 2025 | $200M | — | Addition | Andreessen Horowitz, Lightspeed Venture Partners, Valor Equity Partners, Thrive Capital, Altimeter, Trust Ventures |
| Series C | October 2025 | $1B | $4B | Addition | Andreessen Horowitz, Lightspeed Venture Partners, Thrive Capital, Valor Equity Partners, CapitalG, Ribbit Capital, Lowercarbon Capital, Spark Capital, BOND, Avenir, Glade Brook Capital, Positive Sum, StepStone Group |
| Growth | June 2026 | Undisclosed | — | Addition | Andreessen Horowitz, Lightspeed Venture Partners, Valor Equity Partners |
Investors in Base Power Company
10 institutional investors across 4 rounds
Lead investors
Co-investors
Recent news about Base Power Company
Questions about Base Power Company
How much has Base Power Company raised?
Base Power Company has raised $1.3B across 4 funding rounds since 2023.
Who are the investors of Base Power Company?
Base Power Company's investors include Addition, Thrive Capital, Andreessen Horowitz, Lightspeed Venture Partners, Valor Equity Partners, CapitalG, Lowercarbon Capital, Spark Capital, BOND, StepStone Group.
When was Base Power Company's last funding round?
Base Power Company's most recent round was a $68M Series A in May 2024, led by Thrive Capital.
What is Base Power Company's valuation?
Base Power Company reached a $4B valuation (unicorn status) with its Series A round in May 2024.
Where is Base Power Company headquartered?
Base Power Company is headquartered in Austin, Texas, United States, and was founded in 2023 by Zach Dell, Justin Lopas, Jared Greene.