Skeleton Technologies Stores €3.9M in Series A Financing
August 04, 2014
Skeleton Technologies, a European manufacturer of ultracapacitor technology for energy efficiency in transportation, industrial and defense & space applications, has completed a Series A financing of €3.9 million ($5.2 million). Ultracapacitors are energy storage devices with superior characteristics for delivering and recapturing bursts of power in short time spans over a lifetime of 15 years and 1 million charge/discharge cycles. The financing will be used for production scale-up and product development, in addition to sales and marketing efforts. The total Series A financing, led by Estonian venture capital investor UP Invest, includes the first financing tranche of €2.2 million ($3 million) announced in April 2013.