Terabase Energy receives $130 Million to expand solar technology

Terabase Energy, a solar technology company, announced Thursday that it had secured funding from SoftBank of $130 millions to scale up its technology for large projects.

Terabase Energy now has a total of $200 million in funding, making it the largest funding round in its history. The amount raised by the company was not disclosed.

Solar and energy storage accounted for 84% of new capacity added to US power grids last year, but the sector is facing a difficult future because the U.S. Government's new policies encourage fossil fuels.

U.S. venture funding has also been on the back foot in early 2025, with a few artificial intelligence-integrated companies making headlines.

Through its platform, the company helps solar-power plant designers, engineers, and construction firms digitalize and automate their workflow.

Terabase plans to use part of the funding to develop its robotics assisted assembly line Terafab. According to the company, this will remove "bottles in construction speed" and "workforce limitations".

Construct, a platform for construction management, is also operated by the company. It includes PlantPredict - a software that models solar energy - and PlantPredict.

"The rise in energy consumption, especially from AI data centres, highlights the urgency of scalable and sustainable solutions," said Kentaro Matsui.

SoftBank, a company known for funding technology companies at an early stage, funded Terabase via its Vision Fund 2

Investors include Breakthrough Energy Ventures (BEV), Fifth Wall, SJF Ventures, and EDP Ventures. Reporting by Pritam Biwas in Bengaluru, editing by Vijay Kishore

(source: Reuters)