Solar tech startup Terabase Energy raises $130M led by SoftBank to scale deployment amid rising energy demand

The surge in global energy demand is accelerating the need for scalable and efficient solutions. From AI data centers to expanding urban infrastructures, the race is on to meet growing power requirements while keeping sustainability at the forefront.

That’s why solar energy tech startup Terabase Energy has stepped in to close the energy gap with an interconnected digital and automation platform designed to cut costs and scale solar projects more efficiently.

To accelerate the rollout of its technology for large-scale solar projects, Terabase Energy announced Thursday it has raised $130 million in funding led by SoftBank. This marks the largest funding round in the company’s history, bringing its total capital raised to $200 million. The company didn’t disclose its valuation.

The new funding will also help Terabase’s “efforts to transform the renewable energy, aiming to cut costs and shorten construction timelines.” As energy demand surges, these solutions are critical for making solar power more efficient and accessible.

“SoftBank Vision Fund’s investment reflects our shared commitment to leveraging advanced technology to drive the future of renewable energy,” Terabase CEO Matt Campbell said in a statement. “This funding validates our mission and provides the resources to scale our platform, paving the way for the terawatt era of solar.”

Terabase Energy — The Platform for Terawatt-Scale Solar

Although 84% of new electricity generation capacity added to the U.S. power grid last year came from solar and energy storage, the sector faces headwinds. Recent government policies have leaned in favor of fossil fuels, complicating the growth trajectory for solar initiatives.

“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.

Terabase’s platform supports solar power plant developers, engineers, and construction firms by helping digitize and automate workflows. A significant portion of the funding will go towards developing Terafab, its robotics-assisted assembly line. According to the company, Terafab is designed to speed up construction and ease workforce constraints.

Beyond assembly, Terabase operates PlantPredict, a solar modeling software, and Construct, a construction management platform. Together, these tools aim to streamline the process from planning to completion.

SoftBank, known for backing tech companies at early stages, invested in Terabase through its Vision Fund 2. Existing investors include Breakthrough Energy Ventures, Fifth Wall, SJF Ventures, and EDP Ventures.

With energy demands rising and the push for sustainable solutions intensifying, Terabase’s latest funding could mark a step forward in accelerating the transition to cleaner energy solutions.