Base Power has raised a $1 billion Series D at a $13 billion post-money valuation, led by Ribbit, Addition, Valor Equity Partners and JPMorganChase's Strategic Investment Group.
The valuation has more than tripled from $4 billion at the October 2025 Series C, ten months earlier.
The company retains ownership of every installed battery, so expansion is financed by equity rather than customer payments. Households pay $695 up front and $19 a month in the Houston market.
Stated total funding of more than $2.5 billion exceeds the sum of its four disclosed equity rounds by roughly $230 million, and the difference has not been explained.
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