SoftBank has led a $130mn funding round in Terabase Energy, a northern California-based company that is developing robots and automated systems using artificial intelligence systems to rapidly build solar farms.
The company intends to use the new funding to scale up its business and build solar farms with a capacity for hundreds of megawatts in 2026, said co-founder and chief executive Matt Campbell. “Our thesis is that the solar industry has come down the cost curve, but to keep accelerating the cost reductions you need to apply robotics and AI.”