Base Power’s $1 billion round will help the startup ramp production of its home batteries.

Austin, Texas-based Base Power today said it has raised USD 1 billion (EUR 868m) in Series D financing, giving it a post-money valuation of USD 13 billion.

A home-battery company that did not exist three years ago is now worth $13bn. Base Power has raised $1bn in a Series D and launched its own battery, Base Core. The bet behind the…