Skeleton Technologies banked €33M in the first close of a growth-stage funding round. This latest injection brings the Estonian company’s total venture capital financing to €392M. The capital serves as a strategic bridge as the firm prepares for a planned public listing in the United States, currently slated for 2027.
The company develops high-power energy storage systems designed for grid power and industrial infrastructure. Unlike standard lithium-ion batteries, Skeleton’s hardware utilizes supercapacitors and a proprietary "Curved Graphene" material. This technology allows for rapid charging and discharging cycles, making it suitable for heavy-duty applications that require immediate bursts of high energy.
Founded in 2009 by Taavi Madiberk and Oliver Ahlberg, Skeleton has scaled from a research-heavy startup into a significant industrial player in the European energy landscape. The firm increasingly integrates AI-driven infrastructure to manage and optimize its hardware performance across large-scale electrical grids.
The timing of this round highlights a maturing trend in European deep-tech, where capital-intensive energy companies are looking toward North American capital markets to fund the massive manufacturing scale-up required for global competition.
Originally reported by The Recursive.