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India’s transition towards sustainable mobility has received a significant boost with Statiq, a prominent electric vehicle charging infrastructure company, announcing the closure of an $18 million funding round. Equivalent to approximately ₹163.2 Crore, the round was led by Tenacity Ventures and saw participation from Y Combinator, Shell Ventures, and RCD Holdings. The capital was raised through a strategic combination of equity and debt, reflecting strong investor confidence in Statiq’s long term commercial viability and the broader trajectory of the Indian EV market.
Building a Network That Spans a Nation
Founded in 2020 by Raghav Arora and Akshit Bansal, Statiq operates a network of over 10,000 chargers across approximately 100 cities, making it one of India’s most recognised names in EV charging. The startup offers an integrated hardware and software solution, with primary revenue derived from chargers and related equipment. Its mobile application allows users to locate and book charging points while also aggregating services from partner networks including E Fill, Sunfuel, and GLIDA. Strategic alliances with government agencies, automakers, and hospitality companies have further strengthened the company’s presence across diverse sectors.
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Strategic Deployment: From Highways to Smart Infrastructure
The newly secured capital will fund the expansion of Statiq’s charging network into major Tier I and Tier II cities, addressing growing demand from urban EV owners. The company also plans to deploy fast DC chargers along critical national highways, supporting EV adoption beyond urban boundaries. Statiq has set an ambitious operational target of 99.9% uptime across its network – a metric increasingly central to consumer trust and the commercial sustainability of charging infrastructure businesses.
A Vision Beyond Borders
Beyond domestic expansion, the funding will enhance hardware durability and integrate smart features to streamline network operations at scale. Statiq also plans to commence international hardware exports, signalling its intent to evolve from a domestic leader into a global player in EV charging. A financing programme with the State Bank of India remains in place to support further station deployment nationwide. As India accelerates its clean energy agenda, this fundraise marks a defining chapter in Statiq’s journey toward establishing a credible presence on the global stage.
