Skeleton Technologies raises €41.3 million in equity round from top European entrepreneurs

Skeleton Technologies – a Global Cleantech 100 company and the largest European manufacturer of ultracapacitor-based energy storage – announced today it has completed a €41.3 million financing round. All existing investors participated in the equity raise and were joined by notable European entrepreneurs and international investors. 

Taavi Madiberk, CEO and co-founder of Skeleton Technologies, stated: “The momentum for energy transition and decarbonization of the economy is stronger than ever. I am proud to see that our investors strongly believe in our vision and we now have new world-class mix of industrial companies and experienced startup leadership behind us. Their experience will now help us scale and aggressively grow. We have the right products to capture a dominant market share in the ultracapacitor industry globally.”   

This Series D financing brings Skeleton’s total funding to over €93 million since its inception. It builds on a strong year for Skeleton Technologies, which saw a tripling of its revenues. This follows a similar growth in 2019.

The company acquired major new clients in the last months, including a world leader in renewable energy production and a leading hydrogen bus manufacturer. The total commercial backlog is currently over €150 million.