Statiq plans to utilise the funds toward scaling its charging infrastructure and expand presence across Tier I and II cities
Statiq has built a full stack charging platform that is integrated with in-house software and powered by its proprietary AC/DC fast chargers
The startup aims to double its charger network to 20,000 by the end of 2026
EV charging startup Statiq
has raised $18 Mn (₹163.2 Cr) in a mix of equity and debt funding in a round led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures and RCD Holdings.
Statiq plans to utilise the funds toward scaling its charging infrastructure and expand presence across Tier I and II cities. The startup is planning to install DC fast chargers across key highways, upgrade its products to achieve “99.9% uptime” and begin exporting its hardware to global markets. The investment will also power hardware lifecycle improvements and advanced telematics for seamless scaling, it said.
“With this capital, we’ll harden our stack for scale; hardware lifecycle management, software-strengthening, telematics, and global systems that let partners build on our innovations,” cofounder and CTO Raghav Arora said.
Founded in 2020 by Arora and Akshit Bansal, Statiq provides end-to-end EV charging solutions like manufacturing AC/DC smart chargers, developing a mobile app for locating/booking slots and managing charging infrastructure for commercial and residential partners.
Users of its mobile app can avail charging services from Statiq’s charging network along with other providers like E-Fill, Sunfuel and GLIDA. The startup has also tied up with government bodies, automakers and hospitality companies to expand its charging network coverage to about 100 cities where it has installed over 10,000+ chargers.
The startup is eyeing to double the number of installed chargers by the end of 2026.
Even though EV registrations have risen sharply in recent months, the lack of adequate charging infrastructure across the country remains a major hurdle. To fill this gap, EV charging and infrastructure ventures have continued to attract investor interest, despite the vehicle segment facing a lull over the past few years.
For instance, charging startup Chargeup, which offers battery-as-a-service solutions (BaaS), raised INR 22 Cr ($2.4 Mn) last month which it will use to expand its battery swapping network.
