Skeleton Technologies reaches one billion dollar valuation following Siemens investment

Tallinn-based energy storage firm Skeleton Technologies announced a strategic investment from Siemens on October 14, 2026. EU-Startups and Tech.eu both report that the funding brings the company valuation to more than one billion dollars, or over 899 million euros. EU-Startups describes the deal as a nine-digit investment from the industrial conglomerate. [1][2][5]

Tech.eu reports that Skeleton Technologies plans to invest more than 200 million dollars in United States operations and research and development. The capital will support manufacturing expansion in the country and research activities in Silicon Valley. Skeleton Technologies aims to satisfy rising demand for artificial intelligence data-centre power systems from hyperscalers, according to Tech.eu. [1][2]

Skeleton Technologies was founded in 2009 to build graphene-based supercapacitors for grid and transportation uses. The Estonian company maintains its headquarters in Tallinn and conducts operations in Germany and Estonia. [7]

Data Centre Magazine and Siemens press report that Siemens invested in the business to expand its own portfolio in energy and data center infrastructure. The backing allows Skeleton Technologies to build out high-power infrastructure as global demand for artificial intelligence computing capacity grows, according to Tech.eu and Data Centre Magazine. [1][2][3][4]