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Skeleton Technologies receives € 13 million of investment

Skeleton Technologies, the ultracapacitor specialist, has received €13 million in new investment led by FirstFloor Capital, a Malaysian venture capital investment firm specialising in funding high-growth technology companies.

The Round C investment, which also includes existing Skeleton Technologies’ investors UP Invest and Harju Elekter, brings total financing to €26.7 million and will support Skeleton Technologies in its next phase of revenue ramp-up to bring graphene ultracapacitors from high-end sectors to the mass market.

Skeleton Technologies’ devices are the only ultracapacitors to use a patented graphene-based material in their manufacture, allowing them to deliver twice the energy density and five times the power density of their competitors.

FirstFloor Capital’s Fahmi Hamzah said:
“We believe Skeleton Technologies has great potential to not only transform the international ultracapacitor market through their patented curved graphene power cells but also to become a turnkey energy storage system specialist.”

Skeleton Technologies CEO Taavi Madiberk said:
“We’ve gone from signing our first key customer in 2011 – for sending graphene ultracapacitors into orbit with the European Space Agency – to last financial year when our focus switched from supplying solutions purely to high-end sectors to the transportation, grid and industrial equipment markets.”

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