🔋 Texas Energy Startup Base Power Raises $200M to Build First Factory

Austin-based energy startup Base Power has closed a $200 million Series B funding round to fuel the construction of its first battery manufacturing factory in Texas and drive national expansion. While the exact factory location remains undisclosed, the company plans to scale its battery-powered home energy services across the U.S. The funding round was co-led by Andreessen Horowitz, Lightspeed Venture Partners, and Valor Equity Partners, with participation from Thrive Capital, Altimeter, Terrain, and Trust. Lee Fixel (Addition) and Antonio Gracias (Valor Equity) will join Base Power’s board. Founded in 2023 by Zach Dell (son of tech billionaire Michael Dell) and Justin Lopas, Base Power has rapidly expanded in Texas, recently launching in the Houston market via a partnership with CenterPoint Energy. The startup also works with homebuilder Lennar and Bandera Electric Cooperative. Photo: Base Power