Skeleton Technologies banked €33M in the first close of a pre-IPO funding round. The investment includes participation from Axon Partners Group, SmartCap, and Taiwania Capital, with further backers expected to join the round as part of a larger final close. This latest injection brings the Tallinn-based company’s total venture funding to €392M.
The company develops and manufactures high-performance energy storage systems based on its patented "Curved Graphene" and supercapacitor technology. Its primary focus is providing power solutions for mission-critical infrastructure, including AI data centres, electrical grids, and industrial machinery. Skeleton's hardware targets the growing energy demands of AI by reducing data centre consumption and stabilising grid connections.
The capital is earmarked for scaling production and refining the supply chain ahead of a planned 2027 initial public offering in the United States. By bringing Taiwania Capital onto the cap table, the firm is specifically deepening ties with the Taiwanese semiconductor industry to integrate its cooling and power management systems closer to the chip manufacturing ecosystem.
As European deeptech firms face the "valley of death" between R&D and commercial scale, Skeleton’s ability to attract international growth capital underscores the continent's competitive edge in hardware-focused energy infrastructure.
Originally reported by EU-Startups Daily.