COMPANY INFO
Base Power, officially known as Base Power Company, was founded in 2023 by Zach Dell (CEO) and Justin Lopas (COO). The company, headquartered in Austin, Texas, has about 100 employees and operates in the Electric Utilities industry. Base Power provides residential home battery systems that offer backup power and operate as part of a virtual power plant to enhance grid stability and affordability. Their business model includes installing large home batteries for customers with a low upfront cost and a commitment to purchase electricity from Base, aiming to create a reliable and affordable home energy service powered by distributed batteries (pitchbook.com, canarymedia.com, research.contrary.com).
Base Power, officially known as Base Power Company, is an innovative electric utilities company founded in 2023 by Zach Dell (CEO) and Justin Lopas (COO). Based in Austin, Texas, Base Power operates in the Electric Power Transmission, Control, and Distribution sector and employs around 100 people. The company specializes in providing residential home battery systems designed for backup power and participation in virtual power plants, with the aim of enhancing grid stability and overall affordability. By installing large home batteries at a low upfront cost and offering attractive electricity contracts, Base Power addresses both consumer and energy grid needs with a focus on reliability and cost-effectiveness.
Base Power funding history reflects significant growth and investor interest since its inception. The company has raised a total of $268 million through three funding rounds. These investments have enabled Base Power to accelerate early product development, advance research and development, scale up manufacturing capabilities, and establish key partnerships with utilities. The Base Power funding strategy centers on leveraging venture capital to support rapid expansion, secure top-tier talent, and pioneer innovative energy solutions for modern residential needs.
This Series B funding round was raised to advance R&D, scale up production through a new factory, expand utility partnerships, and significantly grow the Base Power team.
The Series A round provided capital for Base Power’s initial product launch and early product development, laying the foundation for its virtual power plant and residential energy system offerings.
Addition played a crucial role as one of the lead investors in Base Power's Series B round, contributing capital and expertise to help scale the company's production and growth strategies.
Andreessen Horowitz (a16z), a prominent venture capital firm, joined Base Power's Series B, bringing deep industry knowledge and a network that supports Base Power's expansion ambitions.
Lightspeed, another major venture capital firm in the technology and energy sectors, participated as a key investor in the Series B round, supporting Base Power's mission to innovate in the electric utilities industry.
Valor Equity Partners has been instrumental as a lead investor in both the Series A and Series B rounds, signaling strong confidence in Base Power's business model and long-term vision.
Thrive Capital led Base Power's Series A round, providing critical early-stage support that allowed Base Power to develop and launch its home energy systems and virtual power plant concept.
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