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Zach Dell leads Base Power as the startup secures a $1 billion Series D funding round to expand home battery systems.

Zach Dell, the CEO and co-founder of Base Power, announced that the company raised a $1 billion Series D funding round, bringing its post-money valuation to $13 billion. This investment, led by JPMorganChase’s Strategic Investment Group, Ribbit, Addition, and Valor Equity Partners, will be used to facilitate national expansion and hiring efforts. Base Power specializes in installing home battery systems in Texas and Illinois to alleviate strain on the electrical grid. Unlike many competitors, the company offers its batteries on a subscription basis rather than requiring a large upfront cost. The startup also introduced a new home battery model, Base Core, which is manufactured at the company's factory in Austin, Texas. The funding arrives as electricity demand increases due to economy-wide electrification and the rapid growth of AI data centers. The administration announced that the new investment will help Base Power modernize the grid through distributed energy solutions that enhance reliability and capacity.

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