Siemens to invest at least €100 million in Skeleton Technologies — ERR News

German technology group Siemens will invest at least €100 million in Estonian company Skeleton Technologies, which will raise its valuation above €1 billion, ERR News reports.

Investment terms

The parties confirmed that the amount is in the nine-figure range in euros. At the same time, they did not disclose either the exact amount of Siemens' investment or the stake the technology group will receive in exchange for the funding.

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Expansion in the United States

Skeleton Technologies manufactures supercapacitors and supplies infrastructure solutions for artificial intelligence. According to the company, the investment is primarily intended to accelerate the expansion of its manufacturing presence in the United States and its research activities in Silicon Valley. Skeleton Technologies links these plans to growing demand from major cloud infrastructure operators for power systems for AI data centers. Such systems are intended for data centers serving artificial intelligence needs.