Skeleton Technologies, backed by Axon, announces the first close of its pre-IPO funding round with an initial investment of €33 million

Skeleton Technologies, a global provider of AI infrastructure and grid power systems, has announced the first close of a larger funding round at €33 million. This brings its total venture capital funding to €392 million as it prepares for a planned initial public offering in the United States in 2027.

Power is widely recognised as the main bottleneck to global AI growth. This new funding will help Skeleton meet demand for its high-power energy storage solutions, which address power constraints in AI data centres. Alongside its large-scale supercapacitor facility in Germany and its one-gigawatt SuperBattery factory in Finland, the company is preparing to expand production to the United States.

"As AI infrastructure scales, reliable, high-performance power solutions are essential," said Taavi Madiberk, CEO and co-founder of Skeleton Technologies. This funding round brings new strategic partners on board and strengthens our ability to deliver next-generation power solutions. Our technology reduces AI data centre energy consumption by 40%, increases computing power by 40%, and reduces the grid connection point size by 45%, enabling faster deployment.

This round expands Skeleton's investor base with Axon Partners Group (through its ClimateTech strategy, supported by Ventures EPM), SmartCap and Taiwania Capital. Further investors will be announced as part of a larger round ahead of the IPO.

Madiberk added: "We are pleased to strengthen our investor base with partners such as Axon, whose expertise in technology investment and experience supporting growth-stage companies will be instrumental in our IPO preparations. Through Taiwania Capital, we are also deepening our relationship with the Taiwanese semiconductor industry, opening up new strategic opportunities as demand from AI data centres continues to grow."

AI data centres are one of the most critical drivers of global energy demand, and scaling them sustainably requires a fundamentally different approach to power infrastructure, said Francisco Velázquez, Founder and Managing Partner at Axon Partners Group. Skeleton Technologies is exceptionally well positioned to deliver the solutions that will underpin the continued growth of AI, and we at Axon are delighted to support the company as it scales globally and prepares for its next chapter as a public company.

Taiwan serves as the global hub for the AI data centre supply chain, while Europe leads in deep-tech innovation, said David Weng, CEO at Taiwania Capital. We view Skeleton's technology as a critical solution for enabling the next generation of AI infrastructure. By backing Skeleton Technologies, we are connecting their breakthrough energy solutions with Taiwan's robust AI data centre supply chain. Together, we are building the resilient energy backbone needed to unlock the full potential of the AI era.

While the US, with its large hyperscalers, leads in AI globally, our solutions are also being delivered to AI data centre customers across Europe and Asia. The power bottleneck is limiting growth across the entire AI market, driving accelerated demand for our solutions, and the backing of our strong investor base is essential in supporting our rapid growth, Madiberk concluded.

About Skeleton Technologies

Skeleton Technologies is a global provider of AI infrastructure and grid power systems, specialising in high-power energy storage solutions for AI data centres. The company operates a supercapacitor manufacturing facility in Germany and a one-gigawatt SuperBattery factory in Finland, and is preparing to expand production to the United States. Skeleton has raised €392 million in venture capital funding to date and is planning its initial public offering in the United States in 2027.

About Axon Partners Group

Axon Partners Group is a leading technology investment and advisory firm. Through its Next Technology Ventures II (NTV II) fund, it invests in companies driving innovation across areas such as the energy transition, energy storage, grid flexibility and deep tech. Axon supports technology companies at various stages of growth, with a particular focus on those advancing the technological and energy transition. The firm has a team of 90 professionals across Europe, the Americas and the MENA region, and has been listed on the Madrid Stock Exchange [BME: APG] since 2022.