Estonian energy storage company Skeleton Technologies has secured a €33 million first close as part of a larger funding round, strengthening its capital base ahead of a planned US IPO in 2027. The fresh funding takes the company’s total venture capital financing to €392 million.
Founded in 2009 by Taavi Madiberk and Oliver Ahlberg, Skeleton Technologies develops high-power energy storage systems using supercapacitors and its proprietary Curved Graphene technology. The company operates in a space that has become increasingly important as power grids, AI infrastructure and industrial systems demand faster, more reliable energy storage.
This round of financing does not represent yet another round of financing; rather, it occurs amid a shift in how energy storage is viewed. What was once considered simply part of clean technology talk has now become an essential part of infrastructure needs, especially in light of increasing electricity demand and concerns about grid reliability.
Skeleton Technologies describes itself as an AI infrastructure and grid power systems provider. Its technology is built around supercapacitors, which are designed for rapid charging and discharging. That makes the company different from businesses focused only on conventional battery storage.
The planned US IPO in 2027 places Skeleton among the more closely watched European deep-tech companies preparing for global public markets. For Estonia, the development also adds weight to the country’s reputation as a serious startup and technology hub beyond software.
The funding update appeared alongside a wider Central and Eastern Europe startup roundup, which also included major deals across AI, prediction markets, oral care, robotics, Albanian startups and defence technology. Among them, Silicon Valley-based DeepInfra, with a Bulgarian co-founder, raised a $107 million Series B round, while Warsaw-based Elastics secured €1.7 million in pre-seed funding.
Skeleton’s raise, however, stands out because it sits at the intersection of three fast-moving themes: energy storage, grid resilience and AI-linked infrastructure. The company’s next major test will be converting investor confidence into public-market readiness before its planned listing.
