Austin-based startup TAR has closed a $120 million Series A round, valuing the company at approximately $1 billion post-money. Founded in 2026 by Pat Becker and Leonhard Soenke, the firm is building off-grid power systems capable of delivering gigawatt-scale energy for AI data center infrastructure. The round was led by Spark Capital with participation from Buckley Ventures and Align Fund. TAR is already working on a utility-scale project with a major neocloud provider, whose identity remains undisclosed. The funding will support expansion of offices in Austin and San Francisco, manufacturing facilities in West Texas, and a significant hiring push targeting engineers, robotics specialists, and supply chain professionals.
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