Skeleton Technologies closed 37.6 million Euros funding round

Skeleton closed 37.6 million Euros ($42.6 million) in Round D3, led by Wise co-founder Taavet Hinrikus

Round D3 is led by a group of founding team members of Adyen, among them Taavet Hinrikus of Taavet+Sten, Nidoco AB, EIT Innoenergy, Bengt Wahlqvist, co-founder of battery charging specialist CTEK, and other participating members.

The purpose of the investments is to further develop the production of supercapacitors in Saxony, Germany, to meet customer requests, and continue the development of the application of supercapacitor and curved graphene technology in new battery products.

The current round will make Skeleton one of the best-funded deep technology companies in Europe, bringing total investments in the company to over €200 million.

Tallinn, Estonia – Jan 28, 2022

Skeleton Technologies, a Global Cleantech 100 company, a technology leader in supercapacitors and energy storage, today announced the D3 Round with an equity investment of 37.6 million euros.

Round D3 investments are intended to be used to expand supercapacitor production in Saxony, Germany, to meet customer demand and continue the development of new curved graphene-based battery technologies.

“This new financing is one of those milestones that allow us to implement our long-term strategy and not lose any momentum in growing our production to meet rapidly growing customer demand,” said Taavi Madiberk, CEO and co-founder of Skeleton Technologies. We do not stop making strong investments in R&D. We firmly believe that additional fundamental innovation in energy storage is needed to meet the Paris climate goals and will be implemented by deep tech companies.”

The highly subscribed tour found top European entrepreneurs who, together with industry experts, founded some of Europe’s most successful tech companies. Responsibility for the latest financing was taken over by Taavet Hinrikus, co-founder of Wise from Taavet+Sten, including members of the founding team of Dutch fintech company Adyen, battery charging specialist CTEK, EIT InnoEnergy* and Benqt Wahlqvist, co-founder of Nidoco AB. joined a group. Round D3 increases the total investment in Skeleton to over 200 million Euros.

“Skeleton Technologies’ supercapacitors can be charged in seconds and have 1 million charge cycles. This, combined with high efficiency, has made them the supplier of choice for premium companies, from automotive to grid and industrial operations,” said Taavet Hinrikus. “It is exciting that we are supporting the company’s development through the next phase of supercapacitor production scale-up and continued development, which will see the core materials and technology used in new battery products. I believe that the next generation of battery technologies that will bring us closer to our climate goals will be achieved through material innovation. Skeleton’s team has a persuasive track record of bringing R&D to real-life products, so investing in the company was an obvious choice for me.”

“As the battery and energy storage market is now completely dominated by Asian companies, Europe has no choice but to step up and accelerate if it wants to take the lead in key enabling technologies for the race to net zero. We must invest not only in the technologies that work today but also in the breakthrough innovations we will need for decades to come,” explained Taavi Madiberk.

* EIT InnoEnergy is supported by the European Institute of Innovation and Technology (EIT), an agency of the European Union.

About Skeleton Technologies

Skeleton Technologies is a Global Cleantech 100 company and the global leader in technology for supercapacitors for automotive, transportation, utility and industrial applications.

For us, developing and manufacturing the world’s best supercapacitor cells, modules and systems is one way to achieve one goal: helping companies reduce their CO2 emissions and save energy.

We work with some of the largest companies in the world, from European automotive companies to industrial equipment OEMs, truck fleet operators and aviation prime contractors. Our field-performing products reduce CO2 emissions and fuel consumption, improve power quality and reduce power ripple, protecting infrastructure and strengthening broader electrification to combat climate change.

Our patented curved graphene-based supercapacitors represent the biggest technological breakthrough in the industry in the last 20 years, and the use of this innovative material gives our products a unique advantage in power and energy density.

Skeleton Technologies Group has four main locations: production in Großröhrsdorf, Saxony, sales in Berlin, materials development in Bitterfeld-Wolfen, Saxony-Anhalt, Germany, and electrical engineering in Tallinn, Estonia. Since its establishment in 2009, the company has grown from 4 people to more than 260 people.

Skeleton Technologies press contact