Key Takeaways
- • Estonia's Skeleton Technologies became the country's latest tech unicorn after raising an investment from Siemens AG that pushed its valuation above $1 billion, according to CEO Taavi Madiberk.
- • The investment, which closed in October 2026, was more than $100 million, though the company did not disclose the exact amount.
- • In exchange, Siemens secured exclusive rights to sell Skeleton's high-power energy-storage technology to data-center customers.
- • The deal expands Siemens' offering for artificial-intelligence data center infrastructure, according to Siemens CTO Peter Koerte.
Summary
Tallinn-based Skeleton Technologies has become Estonia's latest technology unicorn following an investment from Siemens AG, according to Bloomberg Law. The cash injection pushed the company's valuation over $1 billion, Skeleton chief executive Taavi Madiberk said in an interview. The investment closed in October 2026 and was more than $100 million, the company said, without disclosing the exact figure.
Under the arrangement, Siemens received exclusive rights to sell Skeleton's high-power energy-storage technology to data-center customers. The rights expand Siemens' product portfolio for artificial-intelligence infrastructure, according to Peter Koerte, Siemens' chief technology officer. The technology is aimed at energy storage systems for AI data centers in the United States.
The deal sits within a broader Siemens push into data-center infrastructure. Siemens Energy reported first-quarter orders up more than 30% to 17.61 billion euros, driven by data-center demand, and Siemens raised its 2026 outlook on AI and data-center demand. Separately, Skeleton Technologies is set to build a new supercapacitor factory near Leipzig, Germany, planned by Siemens, which reflects the growing commercial relationship between the two companies.
Under the arrangement, Siemens received exclusive rights to sell Skeleton's high-power energy-storage technology to data-center customers. The rights expand Siemens' product portfolio for artificial-intelligence infrastructure, according to Peter Koerte, Siemens' chief technology officer. The technology is aimed at energy storage systems for AI data centers in the United States.
The deal sits within a broader Siemens push into data-center infrastructure. Siemens Energy reported first-quarter orders up more than 30% to 17.61 billion euros, driven by data-center demand, and Siemens raised its 2026 outlook on AI and data-center demand. Separately, Skeleton Technologies is set to build a new supercapacitor factory near Leipzig, Germany, planned by Siemens, which reflects the growing commercial relationship between the two companies.
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