Supercap company Skeleton closes €37.6M in Round D3; total D round funding at €108M
30 January 2022
Skeleton Technologies, a producer of supercapacitor and energy storage systems, closed its Round D3 with €37.6 million of equity investments. Total D round funding is now at €108 million; round D3 brings total investments into Skeleton to more than €200 million.
Round D3 investments will be used to scale-up the supercapacitor production in Saxony, Germany to meet customer demand and to continue the development of new battery technologies based on curved graphene.
This new funding is one of the milestones allowing us to execute our long-term strategy and not to lose any speed in scaling up our manufacturing to service the rapidly growing customer demand. Although our focus is on scaling up, we continue to invest strongly into R&D. We firmly believe that, to meet the Paris climate targets, additional fundamental innovation in energy storage is needed and this will be executed by deep tech companies.—Taavi Madiberk, CEO and co-founder of Skeleton Technologies
The oversubscribed round included top European entrepreneurs who have built some of the most successful tech companies in Europe, coupled with industry specialists. The latest funding was led by Wise co-founder Taavet Hinrikus from Taavet+Sten, joined by a group that included members of the founding team of Adyen, the Dutch fintech company, Benqt Wahlqvist, co-founder of battery charging specialist CTEK, Nidoco AB and EIT InnoEnergy.
In September 2021, Skeleton added new graphene supercapacitors offering a 72% increase in energy density to its portfolio. As an example, the SCX5000 3.0V cell offers 16 Wh/l, a 72% increase in energy compared to the SkelCap SCA3200 cell with the same form factor.
The low resistance of the cell results in less voltage drop and power loss, leading to a more efficient system, outperforming competing supercapacitors. The price-performance ratio allows targeting applications covered by the high-power segment of the battery market, such as the cross-sectoral field of hybridization with lithium-ion batteries and fuel cells.
Skeleton Technologies Group has four main locations: its manufacturing in Großröhrsdorf, Saxony, sales in Berlin, materials development in Bitterfeld-Wolfen, Saxony-Anhalt, Germany, and electrical engineering in Tallinn, Estonia. From its foundation in 2009, the company has grown from 4 to more than 260 people.