SoftBank Vision Fund 2 Invests In Terabase Energy

US-headquartered utility-scale solar power solutions company Terabase Energy has raised $130 million in its Series C financing round. This round was led by Japan’s SoftBank Vision Fund 2, a technology-based fund from Japan’s SoftBank that invests in high-growth potential companies leveraging artificial intelligence (AI).

Terabase provides digital and automation solutions for large-scale solar projects, using robotics and artificial intelligence (AI). It plans to use the new funding to accelerate the deployment of its technologies for large solar projects, saying that these reduce both costs and construction timelines.

The SoftBank funding will support the manufacturing scale-up of its robotics-assisted assembly line Terafab. This ‘next-generation’ factory will deploy hundreds of megawatts of solar through 2026, according to the company. It ‘doubles installation productivity,’ and eliminates manual lifting of heavy components, according to Terabase. 

The company also offers its PlantPredict solar modeling software, which it acquired from First Solar in 2021, and Construct construction management platform to help EPC firms and project developers lower their cost and deployment barriers.  

“The surge in energy demand, particularly from AI data centers, underscores the urgency of scalable, sustainable solutions,” said SoftBank Global Advisers’ Managing Partner Kentaro Matsui. “Terabase’s innovative approach to digitalizing and automating solar power plant deployment positions it as a leader in this transition.”   

With this new round, Terabase says its total funding now exceeds $200 million. Other investors in the company include Breakthrough Energy Ventures, Prelude Ventures, Fifth Wall, SJF Ventures, and EDP Ventures, some of whom participated in the Series C round.