Estonian Skeleton Technologies secures €108M from top investors Siemens and Marubeni

Skeleton Technologies, a Tallinn-based ultracapacitor manufacturer, has secured €108 million in a funding round led by top investors Siemens Financial Services, Marubeni Corporation, and others. The funding will accelerate the product development and finance the manufacturing expansion of the SuperBattery.

• Skeleton Technologies was founded in 2009 by Oliver Ahlberg and Taavi Madiberk. It is a global manufacturer and developer of high energy and power density ultracapacitors. Skeleton is currently ramping up manufacturing of its supercapacitors’ product line for the SuperBattery technology, slated for future mass production.
• Skeleton Technologies also develops and produces its own patented raw material called Curved Graphene. Curved Graphene allows Skeleton’s products to reach unprecedented levels of performance while not relying on toxic metals.

“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,”

Skeleton Technologies’ CEO and Co-Founder Taavi Madiberk, says.

• Apart from the investment from Siemens Financial Services, the companies also partnered to automate and digitise Skeleton’s upcoming factory in Leipzig, Germany. Existing investors, including Marubeni Corporation, have also contributed to the investment round.
• In addition to Siemens and Marubeni, Brazilian mining giant CBMM also made its inaugural investment in Skeleton.

This is the second big investment deal for Skeleton Technologies. In July 2023, the company raised an additional funding round from Marubeni. And in January 2022, Skeleton raised its Series D3 round with nearly €38 million of equity investment.

“We’re thrilled to have partners like Siemens and Marubeni Corporation who share our vision for swift electrification. Their support positions Skeleton for enhanced global outreach, backed by two industrial powerhouses from Europe and Asia,”

Taavi Madiberk comments.

• The Leipzig factory is scheduled to be completed at the end of 2024 and produce up to twelve million cells a year. The factory will have 40 times more output than the company’s existing site in Großröhrsdorf, Germany.