Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq operates EV charging networks that install AC (alternating current) and DC (direct current) fast chargers. It also runs a consumer app that helps users discover, access, and pay for charging services.
In addition to running its own chargers, Statiq integrates third party networks on its platform, allowing EV users to access multiple operators through a single interface. It also works with real estate developers, hospitality chains, automakers, and government bodies to set up charging stations.
The company has built a network spanning more than 100 cities, with over 10,000 charging points.
Statiq said it will deploy the fresh capital to expand its network, particularly by adding more DC chargers along highways and in tier I and II cities. It is also looking to improve its uptime by upgrading products and investing in hardware lifecycle management and telematics to support scale.
“We’ve seen the highs and lows of the sector, but our focus has remained on the ground, literally. We survived the downturn by executing on unit economics and building a product that works as well in the heat of Rajasthan as it does in the humidity of Kerala,” Bansal, who’s also the CEO, said in a statement.
As part of its expansion strategy, Statiq is rolling out a franchise-owned, company-operated model, under which local partners invest in charging hardware while the company manages the operations. The model was recently launched in Gurugram in partnership with the SS group, an NCR-based real estate developer.
Prior to this, the company raised $25.7 million in a round led by Shell Ventures in 2022.
Beyond India, Statiq is exploring overseas opportunities and said it has piloted deployments in the UAE, and plans to export charging hardware manufactured in India.
“Statiq is not just an EV charging company, but a full-stack deeptech platform powering the energy transition. By integrating software intelligence with purpose-built hardware, they have built a resilient foundation for rapid scale,” said Rohit Razdan, managing director, Tenacity Ventures.
According to Tracxn, Statiq reported revenue of Rs 79.3 crore, and net loss of Rs 68.2 crore for the fiscal year ended March 2025.
Statiq faces competition from startups like Charge Zone, Exponent Energy, Kazam, and Ather Grid, a fast-charging public network for electric two-wheelers, developed by Ather Energy.
