Austin-based startup TAR has secured $120 million in a Series A funding round, achieving a post-money valuation of approximately $1 billion. The investment was led by Spark Capital, with participation from existing backers Buckley Ventures and Align Fund.
Founded in 2026 by Pat Becker and Leonhard Soenke, the company specializes in off-grid power systems designed for AI data centers. The technology aims to provide energy at a gigawatt scale to address power supply constraints in the computing sector.
The startup is currently engaged in a utility-scale project with an undisclosed major neocloud provider. The new capital will support the expansion of offices in Austin and San Francisco, as well as the development of manufacturing and logistics facilities in West Texas.
TAR intends to use the funding to accelerate its growth initiatives, primarily through an aggressive hiring campaign. The company is recruiting engineers, robotics specialists, and supply chain experts, targeting talent from firms such as Hut 8 and AES.
