Zach Dell’s Battery Company Is In Talks To Raise Funding At A $12 Billion Valuation |
Additional reporting from Iain Martin.
Austin-based Base Power, a provider of home batteries for backup power, is in talks to raise around $1 billion at a $12 billion valuation, four sources familiar with the matter told Forbes. Ribbit Capital is in talks to lead the round, one of the sources said.
Base Power and Ribbit Capital did not respond to Forbes’ request for comment.
Founded in 2023 by Zach Dell, son of billionaire computer pioneer Michael Dell, and Justin Lopas, Base Power installs and maintains large capacity home batteries which can serve as backup power if the main grid goes down. It also sells electricity at cheaper prices primarily to residents in Texas and part of Illinois. Acting as a power........