Gurugram-based EV charging pioneer Statiq has successfully raised $18 million (approximately ₹163.2 crore) in a fresh funding round, signaling a major boost for India’s electric mobility infrastructure. The investment, which comprises a strategic blend of equity and debt, was led by Tenacity Ventures. The round also saw strong participation from existing backers Y Combinator and Shell Ventures, alongside RCD Holdings.
Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq has rapidly emerged as a market leader in the EV space. The startup plans to utilize the new capital to aggressively scale its charging network, with a specific focus on deploying DC fast chargers along key national highways and expanding its presence in Tier-1 and Tier-2 cities. Additionally, the funds will be directed toward enhancing hardware lifecycle management and advanced telematics to ensure a target network uptime of 99.9%.
Statiq currently operates a robust network of over 10,000 chargers across more than 100 cities. Its “full-stack” approach—which combines proprietary hardware manufacturing with an integrated software platform—allows it to offer a seamless experience for EV owners. Through its mobile app, users can locate and book charging slots not only at Statiq-owned stations but also across partner networks like E-Fill, Sunfuel, and GLIDA.
The company’s growth strategy includes a Franchise-Owned, Company-Operated (FOCO) model, designed to accelerate infrastructure deployment while maintaining high service standards. “This capital allows us to move from being a leader in India to a contender on the global stage,” stated Akshit Bansal, Co-founder & CEO. As part of its global ambitions, Statiq is already piloting projects in the UAE and plans to export its “Made in India” charging hardware to international markets.
Beyond its core charging services, Statiq has forged high-impact collaborations to bridge the infrastructure gap:
- Automotive Alliances: Partnering with BMW Group India to develop a 4,000 km high-speed charging corridor from Jammu to Madurai.
- Government & PSU Tenders: Successfully securing tenders from BPCL and Indian Oil to integrate thousands of existing chargers into its digital platform.
- Financing Solutions: Running a dedicated financing program in partnership with the State Bank of India (SBI) to help partners set up new charging stations.
With the goal of doubling its footprint to 20,000 charging points by the end of 2026, Statiq is positioning itself as a critical player in the global energy transition. Despite facing competition from players like Charge Zone and ElectricPe, Statiq’s focus on unit economics and operational reliability has made it a standout choice for institutional investors looking to back the future of green transportation.
Key Highlights:
- Major Capital Inflow: Statiq raised $18 million in an equity-debt round led by Tenacity Ventures to accelerate EV infrastructure growth.
- Network Expansion: The funds will be used to deploy more DC fast chargers on highways and expand into Tier-2 cities, aiming for 20,000 total charging points by 2026.
- Global Ambitions: The startup plans to export its “Made in India” hardware and build on pilot projects currently running in the UAE.
- Strategic Tech Focus: A significant portion of the investment is dedicated to improving hardware reliability, aiming for a 99.9% network uptime.