Siemens investment lifts Skeleton valuation above one billion euros

German technology group Siemens will invest at least 100 million euros in Skeleton, lifting the company’s market value to more than one billion euros, ERR reported.

The companies confirmed the investment is worth a nine-figure sum but did not disclose the exact amount or the stake Siemens will receive.

Skeleton makes supercapacitors and provides artificial intelligence infrastructure. The company said the investment will allow it to expand production in the United States.