EV Charging Startup Statiq Secures $18 Million Funding Round
EV charging startup Statiq has raised $18 million (about Rs 163.2 crore) in a mix of equity and debt funding round led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings. The funding comes nearly two years after Statiq raised $25.7 million in its Series A round led by Shell Ventures in 2022, highlighting continued investor confidence in India’s EV infrastructure sector.
Capital to Scale Charging Infrastructure Across India
The fresh capital will be used to scale Statiq’s EV charging infrastructure across Tier I and Tier II cities, strengthen hardware lifecycle management, and invest in advanced telematics systems. The company also plans to accelerate deployment of its charging network and improve operational efficiency as EV adoption grows across passenger and commercial mobility segments.
Statiq aims to double its installed charging base by the end of 2026, expanding its footprint across high-demand urban and highway corridors.
Building India’s Integrated EV Charging Platform
Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq builds and operates EV charging infrastructure while offering a consumer app that enables users to locate, book, and manage charging sessions. Its hardware-led model includes chargers and supporting infrastructure, which contribute a significant portion of its revenue.
The startup has installed more than 10,000 chargers across nearly 100 cities and collaborates with government agencies, automakers, and hospitality partners to expand access. It also runs a financing program in partnership with State Bank of India to support deployment of charging stations.
Through its app, users can access Statiq’s network as well as partner networks such as E-Fill, Sunfuel, and GLIDA. Statiq competes with players like Charge Zone, ElectricPe, Bolt.Earth, and IPEC as India accelerates EV infrastructure development to support rising electric vehicle adoption.
Keep building. Keep learning. Keep growing with StartupByDoc.