Justin Lopas
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Inside the Factory Behind Base Power's $1B Series D
Base Power recently secured a $1 billion Series D funding round led by Ribbit and JPMorgan Chase, establishing a $13 billion valuation to accelerate production of its high-capacity BaseCore home battery system. The vertically integrated manufacturer is scaling operations at its Austin facility to 4,000 units weekly, featuring a modular design that enables full-home backup power in under two hours per unit. This growth supports a strategic rollout of both direct consumer sales and utility partnership models across key regional markets as the company prepares to open a second factory near the Austin airport.
Base Power Raises $1B led by Addition, with Trust Ventures, Lightspeed, a16z, Altimeter, Elad Gil
Elad Gil, Zach Dell, Justin Lopas, Molly O'Shea
Base secured an oversubscribed $1 billion Series C led by Addition, accelerating from its previous $200 million round to fund its "Speed to Power" product designed to bypass traditional grid interconnection delays for data centers. Backed by strategic investors like Lennar and Starwood alongside founders from SpaceX and Tesla, the company is deploying gigawatt-scale battery capacity from its Austin "Factory One" at a target rate of 100 megawatts per month. This capital infusion supports a strategic pivot to replace fossil fuels with cost-efficient solar and storage, aiming to solve critical energy bottlenecks for AI development while expanding operations into high-solar states like California and Florida.
Base Power's $200M Series B | Co-Led by Lee Fixel, A16Z, Lightspeed, & Valor Equity Partners
Lee Fixel, Zach Dell, Justin Lopas, Antonio Gracias, Molly
Base Power, founded in 2023 by Zach and Justin, closed a $200 million Series B round led by Addition with new participation from Andreessen Horowitz and Lightspeed Ventures to accelerate its "violent execution" culture and vertical integration strategy. Leveraging an isolated grid launch in Texas and a proprietary utility model that reduces deployment timelines to 2–4 weeks, the company has installed over 1,000 batteries while securing partnerships with builders like Lennar and utilities such as Bandera. Backed by a talent pool drawn from SpaceX and Tesla, Base Power now aims to scale operations to 50–100 daily installations and expand across all 50 states to address surging electricity demand from AI data centers and electrification.