Skeleton Technologies said it has raised additional 29 million euros from Marubeni Corporation, a group of Adyen alumni and several European industrial financiers.

The Estonian startup has raised a total of 120 million euros in the last 12 months.

“Skeleton is growing fast and preparing for the next stage in the company’s lifecycle, that will include a significant scaling up of our operations, supported by strong growth in customer demand.”

Taavi Madiberk, CEO and co-founder of Skeleton Technologies

Several early backers of the company such as MM Grupp and Harju Elekter and more recent ones including
European industrial investors and a group of entrepreneurs that grew payments company Adyen from its
inception to successful IPO have decided to increase their stakes in the company, following Skeleton’s
recent successes in sales and in the development of its next-generation graphene-based products.

Whilst most of the energy industry focuses on incremental improvements of a generally similar li-ion battery
technology, Skeleton has chosen to differentiate itself by focusing on materials technology, having created
the patented Curved Graphene material.

“In terms of commercialization, we have started with a relatively niche market of supercapacitors and are now moving to Superbatteries, covering the high efficiency, high power niche of the battery market. As the next step of our strategy, we aim at merging the long lifetime, fast charging supercapacitors and high energy, long-duration battery technology, to allow to offer a more competitive long range EV battery than currently on the market or in the development pipeline,” Madiberk said.

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