Estonia

[Funding alert] Tallinn-based Skeleton Technologies Raises €108M in Funding

Oct 16, 2023 | By Startup Rise EU

Tallinn-based Skeleton Technologies raises €108M in funding that includes Siemens Financial Services (SFS), Marubeni Corporation and other investors.

Tallinn-based Skeleton Technologies raises €108M in funding that includes Siemens Financial Services (SFS), Marubeni Corporation and other investors.

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This funding will accelerate the development of next-generation products and finance the manufacturing expansion for supercapacitors and the company’s new high-power battery technology – the SuperBattery.

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Skeleton Technologies’ CEO and Co-Founder Taavi Madiberk said, "Securing an investment from one of Europe's largest tech companies is a significant milestone for Skeleton. In addition to SFS’ investment, Siemens is also a key partner, supplier, and customer. Their expertise in industrialisation and commercial partnerships will propel our growth and solidify our role in leading the energy transition.”

Steffen Grosse, CEO of Equity Finance at SFS commented: ,„Siemens has a long-standing relationship with Skeleton, recently signing a cooperation agreement to digitize supercapacitors production with our Manufacturing Operations Management System. We're pleased to deepen this partnership by investing in their expansion and the development of advanced battery technologies. Our goal is to support innovative technologies for a sustainable future, and Skeleton aligns perfectly with this vision, having developed cutting-edge high-power, fast-charging technologies. Therefore, we are thrilled to invest in Skeleton and help building a robust battery ecosystem in Europe.“

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Existing investors, including Marubeni Corporation, have also contributed to the investment round. The conglomerate, which includes Warren Buffet’s Berkshire Hathaway as a significant shareholder, distributes Skeleton's products in Asia and aids in acquiring customers for Skeleton’s SuperBattery in the region.

Read also - Italy-based Startup Data Masters Secures €200K in Funding

About Skeleton Technologies

Skeleton Technologies is a leader in quick energy storage for grid, industrial, automotive, and transportation applications. Skeleton Technologies also develops and produces its own patented raw material called Curved Graphene.

Read also - Berlin-based Kodex AI Secures €1.6 million in Funding

Curved Graphene allows Skeleton’s products to reach unprecedented levels of performance while not relying on toxic metals. For us, creating the finest energy storage technology available is a means to an end—assisting businesses in lowering their CO2 emissions and using less energy.

Read also - Dutch Startup Convious secures $9M Series A Round Funding

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