Skeleton tops US$1 billion valuation with Siemens investment
The company plans to invest more than US$200 million in operational scale-up and Silicon Valley R&D as it expands its US manufacturing presence.
Skeleton Technologies has announced an investment from Siemens that it says takes its valuation above US$1 billion. The funding is intended mainly to expand US production and research and development in Silicon Valley, targeting demand from hyperscalers for power systems used in AI data centres.
Chief executive Taavi Madiberk described the Siemens-led financing as a nine-digit round. Skeleton plans to spend more than US$200 million on scaling operations and R&D in Silicon Valley, where it will work directly with hyperscalers. Its US plans also include cell production, allowing it to manufacture both cells and finished systems domestically.
The collaboration builds on Siemens’ support for Skeleton’s expansion in 2023. Siemens Digital Industries designed and automated Skeleton’s Leipzig SuperFactory in Germany. The partners now intend to develop and commercialise AI data-centre products by combining Siemens’ industrial electrical infrastructure capabilities with Skeleton’s technology for responding to rapid changes in power demand.
Skeleton uses its proprietary Curved Graphene material alongside power electronics and controls to handle fluctuating electricity requirements in AI clusters. Madiberk said its systems could deliver energy savings of up to 40 per cent and double-digit gains in GPU performance by removing power fluctuations as a constraint.
