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Zach Dell Co-Founds Base Power, Which Raised $1 Billion in Series D Funding to Value the Company at $13 Billion

Zach Dell, the CEO and co-founder of Base Power, announced that the startup raised $1 billion in a Series D funding round, bringing the company's post-money valuation to $13 billion. This investment, led by JPMorganChase’s Strategic Investment Group, Ribbit, Addition, and Valor Equity Partners, follows a successful $1 billion Series C round less than a year ago. The capital will be used to fuel national expansion, hiring efforts, and the deployment of home battery systems in Texas and Illinois. Base Power aims to modernize the electrical grid by placing batteries in residential backyards rather than relying on large tracts of land. The company also introduced a new home battery, Base Core, manufactured in Austin, Texas. This device offers significant storage capacity and can be installed in under an hour. By offering a subscription-based model, Base Power allows homeowners to use the batteries for backup power during blackouts while the company sells stored electricity back to the grid during periods of high demand.

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