Base Power is announcing a $1 billion Series D financing at a $13 billion post-money valuation, alongside the launch of Base Core: a home battery designed from the ground up to support the grid, now in production at Base Factory 1 in Austin.

The Series D is led by Ribbit, Addition, Valor Equity Partners, and JPMorganChase's Strategic Investment Group, part of the firm's Security and Resiliency Initiative, with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, and Energy Impact Partners. Base's major existing investors are re-investing, including Thrive Capital, a16z, Lightspeed, Trust Ventures, CapitalG, and more.