Skeleton Technologies has announced the first close of a larger funding round at €33 million, bringing the company’s total venture capital funding to €392 million ahead of its planned US IPO in 2027. The round includes participation from SmartCap's Green Fund, alongside new investors Axon Partners Group and Taiwania Capital, with additional investors expected to join the broader financing round.
Founded in Estonia, Skeleton Technologies develops high-power energy storage solutions designed to address one of the biggest constraints facing the global AI industry today: power availability. The company’s technologies are designed to help AI data centres reduce energy consumption, increase computing power, and connect to power grids more quickly.
“As AI infrastructure continues to scale, reliable, high-performance power solutions have become critical,” said Taavi Madiberk, CEO and co-founder of Skeleton Technologies. “This funding round brings additional strategic partners to the table and strengthens our ability to deliver the next generation of power solutions that cut AI data centre energy consumption by 40%, increase computing power by 40%, and enable faster power grid connection.”
The new funding will support Skeleton’s continued expansion across Europe, Asia, and the United States. In addition to its supercapacitor manufacturing operations in Germany and its one-gigawatt SuperBattery factory in Finland, the company is now preparing to expand production capacity to the US market.
“AI data centres are one of the most critical drivers of global energy demand, and scaling them sustainably requires fundamentally new approaches to power infrastructure,” said Francisco Velazquez, Founder and Managing Partner at Axon Partners Group. “Skeleton Technologies is uniquely positioned to deliver the solutions enabling the continued growth of AI, and we are excited to support the company as it scales its solutions globally and prepares for its next chapter as a public company.”