AI firm Skeleton secures investment to tackle data centre power constraints

A global AI infrastructure and grid power systems provider has locked in initial investment which it says will enable it to meet the demand for its high-power energy storage solutions that address power constraints within AI data centres.

Skeleton Technologies announced the first close of a larger funding round at €33 million, raising its total venture capital funding to €392 million in preparation for its planned initial public offering in the US in 2027. 

“Power is unanimously recognised as the key bottleneck to AI growth globally. The new funding will further enable Skeleton to meet the demand for its high-power energy storage solutions that address power constraints within AI data centres,” the company said in a statement.

In addition to its mass-scale supercapacitor manufacturing in Germany and 1GW SuperBattery factory in Finland, Skeleton is preparing to expand production to the US. 

“As AI infrastructure continues to scale, reliable, high performance power solutions have become critical,” said Taavi Madiberk, Skeleton Technologies CEO and co-founder.

“This funding round brings additional strategic partners to the table and strengthens our ability to deliver the next generation of power solutions that cut AI data center energy consumption by 40%, increase computing power by 40% and enable faster power gris connection.”

IPO push

The new round expands Skeleton’s investor base with the addition of Axon Partners Group, SmartCap and Taiwania Capital, with more investors to be announced as part of a larger round ahead of the IPO. 

These partnerships are expected to support Skeleton’s IPO preparations and deepen its relationship with the Taiwanese chip industry through Taiwania Capital. 

“AI data centres are one of the most critical drivers of global energy demand and scaling them sustainably requires fundamentally new approaches to power infrastructure,” said Francisco Velazquez, Axon Partners Group Founder and Managing Partner.

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Growing the Europe-Asia connection

David Weng, Taiwania Capital CEO, said Taiwan “acts as the global hub for the AI data centre supply chain, while Europe is a powerhouse of deep-tech innovation”.

Madiberk noted that while the US with its large hyperscalers, is the leader in AI globally, “our solutions are being delivered to AI data centre customers in Europe and Asia, as well.”

Enlit World reported in February that Estonia-based Skeleton Technologies had signed a strategic MoU with Hyosung Heavy Industries, together with Marubeni Corporation, to cooperate on South Korea’s first domestically produced next-generation e-STATCOM grid stabilisation solution, with commercialisation targeted for 2027.

The partnership integrates Skeleton’s supercapacitor-based high-voltage rack into Hyosung’s STATCOM (Static Synchronous Compensator) platform. 

Also, last December, the company inaugurated its €220 million 'SuperFactory' in Markranstädt, near Leipzig in Germany.

The facility will manufacture the company’s supercapacitors, which make use of a patented Curved Graphene material – a novel, synthetic carbide-based material that enhances the energy density of supercapacitors.

Skeleton sees the facility as an important commitment to and advancement of made-in-Europe, high-power energy-storage technologies.