Skeleton receives double-digit million amount

The German-Estonian battery start-up Skeleton is raising fresh capital to drive forward the development of alternative storage technology in Germany.

The energy start-up Skeleton has raised 37.6 million euros in a recent financing round. The round was led by former Skype manager and co-founder of Wise (formerly Transferwise) Taavet Hinrikus. This brings the total investment in Skeleton to over 200 million euros. The company intends to use the new capital to expand supercapacitor production in Saxony and further advance the development of battery technology.

Taavi Madiberk and Oliver Ahlberg founded Skeleton together in 2009. The start-up is based in Tallinn, but has its production and development sites in Germany. The deep tech company focuses on the development of ultracapacitors, an energy storage technology that is designed to be more environmentally friendly and efficient than conventional batteries. Lead investor Taavet Hinrikus sees potential in the new storage technologies for the energy transition. "I am convinced that the next generation of battery technologies - which will enable us to achieve our climate targets - will be made possible by material innovations."