Statiq Raises $18 Million Led by Tenacity Ventures to Expand EV Charging
The mixed equity–debt funding underscores sustained investor confidence in India’s EV infrastructure build-out.
Overview
- The round totals about $18 million in a combination of equity and debt led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures and RCD Holdings.
- Statiq plans to scale its network across Tier I and Tier II cities and add more DC fast chargers along key national highways.
- The company says the capital will support upgrades targeting 99.9% uptime through hardware lifecycle improvements, stronger software and advanced telematics.
- Following pilots in the UAE, Statiq intends to start exporting its ‘Made in India’ charging hardware to overseas markets.
- Founded in 2020 by CEO Akshit Bansal and CTO Raghav Arora, Statiq reports over 10,000 chargers across about 100 cities and is targeting a doubling of installed chargers by the end of 2026.