EV charging infrastructure startup Statiq has secured $18 million (approximately ₹163.2 crore) in a mix of equity and debt funding. The round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures and RCD Holdings.
The development follows earlier reports by Entrackr in October last year about the potential deal. Statiq had previously raised $25.7 million in a Series A round led by Shell Ventures in mid-2022.
Funds to Support Expansion
According to the company, the fresh capital will be used to scale its EV charging infrastructure, expand operations across Tier I and Tier II cities, and strengthen hardware lifecycle management and advanced telematics capabilities.
Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq builds and operates EV charging stations while also offering a consumer-facing mobile app that allows users to locate and book charging points. The startup provides both hardware and software-driven solutions, with the hardware segment—including chargers and related infrastructure—contributing a major share of its revenue.
Statiq also runs a financing initiative for EV charging stations in collaboration with the State Bank of India, aimed at accelerating infrastructure rollout.
Growing Network Presence
Through its mobile app, users can access charging services across Statiq’s own network as well as partner networks such as E-Fill, Sunfuel and GLIDA The company has partnered with government bodies, automobile manufacturers and hospitality players to expand its footprint to nearly 100 cities, with over 10,000 chargers installed so far.
Competitive Landscape
In India’s rapidly growing EV charging infrastructure space, Statiq competes with startups such as Charge Zone, ElectricPe, Bolt.Earth and IPEC.
Looking ahead, the company plans to double its installed charger base by the end of 2026 as it strengthens its presence in India’s electric mobility ecosystem.
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