TALLINN — Skeleton Technologies secured 33 million euros in the first part of its pre-IPO funding round on Tuesday, pushing its total venture capital to 392 million euros ahead of a planned 2027 US initial public offering. The Estonia and Germany-based energy storage company raised the capital from new investors including Axon Partners Group, SmartCap, and Taiwania Capital, alongside existing backer CBMM.
Taavi Madiberk, CEO and co-founder of Skeleton Technologies, said the 33 million euro injection will fund power solutions designed to cut energy consumption in artificial intelligence data centers by 40 percent. The company was founded in 2009 by Madiberk and Oliver Ahlberg to manufacture supercapacitor-based energy storage systems that replace traditional lithium-ion battery backups in data center power racks.
The flagship GrapheneBBU product allows for rapid charge and discharge cycles, which provides a swift response to power demands from expanding artificial intelligence infrastructure. Data center electricity usage is projected to double by 2030, driven largely by artificial intelligence workloads, according to company projections cited in the financing announcement.
Skeleton Technologies competes with established firms such as EnerSys and Vertiv, as well as newer market entrants like Capacitech Energy. The company is currently building a one-gigawatt SuperBattery factory in Finland to distinguish its graphene-enhanced supercapacitor technology from traditional competitors.
The latest funding round also supports plans to establish manufacturing capacity in the United States while simultaneously expanding production facilities across Europe. The company did not disclose a specific timeline or capital expenditure figure for the upcoming US manufacturing site in the funding disclosure.
