Estonia's Skeleton Technologies Hits $1B Valuation with Siemens Investment

Taavi Madiberk, CEO of Skeleton Technologies, told the outlets that AI is scaling faster than the power infrastructure supporting it, and that the key constraint is how much compute can be extracted from each GPU and each available megawatt rather than how many GPUs can be purchased.

According to Tech.eu, Skeleton's technology is built around a proprietary Curved Graphene material designed for fast power delivery, high efficiency and long cell life. The company combines its cells with power electronics and system-level controls to handle the rapidly shifting power demands of AI clusters, which it says can deliver up to 40 percent energy savings and double-digit gains in GPU performance by eliminating harmonics and managing power fluctuations close to the workload.

Tech.eu noted that global data-centre electricity consumption is projected to nearly double from about 485 TWh in 2025 to 950 TWh by 2030, citing the International Energy Agency, with electricity use by AI-focused data centres expected to triple.

EU-Startups situated the deal within a broader run of European funding rounds in 2026 aimed at the physical and energy infrastructure behind AI data centres. These include Valencia-based iPronics raising 107.6 million euros for energy-efficient optical networking, London's Orbital Industries securing 43 million euros for AI-designed data-centre infrastructure including cooling, and UK-based Gaussion raising 24.5 million euros to commercialise battery technologies for applications such as data centres.