Terabase Energy secures $130 million to expand solar technology deployment

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(Reuters) – Solar technology company Terabase Energy announced on Thursday it has secured a funding of $130 million, led by SoftBank, to scale its technology deployment for large solar projects.

The funding round, the largest in the company’s history, brings Terabase Energy’s total funding to $200 million. The company did not disclose the valuation at which the amount was raised.

Despite 84% of the new electricity generation capacity added to the United States power grid last year coming from solar and energy storage, the sector faces a challenging future due to the U.S. government’s new energy policies encouraging 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.

The company works with solar-power plant developers, engineers and construction firms through its platform, which helps in workflow digitalization and automation.

Terabase will use the funding in part to further develop its robotics-assisted assembly line, Terafab, which according to the company removes “bottlenecks in construction speed and workforce limitations”.

The company also operates PlantPredict, a solar modeling software, and a construction management platform called Construct.

“The surge in energy demand, particularly from AI data centers, underscores the urgency of scalable, sustainable solutions,” said Kentaro Matsui, managing partner at SoftBank Global Advisers.

SoftBank, known for financing technology companies in a nascent stage, also funded Terabase through its Vision Fund 2.

The company also counts Breakthrough Energy Ventures, Fifth Wall, SJF Ventures and EDP Ventures as existing investors.

(Reporting by Pritam Biswas in Bengaluru; Editing by Vijay Kishore)