Statiq has raised approximately $18 million in a funding round comprising both equity and debt. The round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures and RCD Holdings.
The investment comes at a time when funding activity in India’s EV infrastructure segment has been selective, with investors focusing on operational performance and scalability.
Company Background
Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq operates an electric vehicle charging network in India. The company develops and deploys AC and DC fast chargers and manages them through its software platform. Statiq currently operates charging stations across multiple cities and highways, serving both private and commercial EV users.
Expansion Plans
The company said the new funds will be used to expand its charging network across Tier-1 and Tier-2 cities. It also plans to increase the number of DC fast chargers along key highway corridors. In addition, Statiq aims to improve charger uptime, upgrade hardware systems, and invest in telematics to support network management at scale.
“This isn't just a funding announcement; it’s a validation of a 20-year mission,” said Akshit Bansal, co-founder & CEO of Statiq. “We’ve seen the highs and lows of the sector, but our focus 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. This capital allows us to move from being a leader in India to a contender on the global stage.”
International Presence
Statiq is also looking to expand beyond India. The company has conducted pilot deployments in the UAE and plans to export its charging hardware to select international markets.
“Our product roadmap has always been customer-first,” said Raghav Arora, co-founder & CTO of Statiq. “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.”
FOCO Model Rollout
The company has introduced a Franchise-Owned, Company-Operated (FOCO) model. Under this structure, partners invest in the charging hardware while Statiq manages operations and maintenance. The model was launched with a charging station developed in partnership with SS Group in Gurgaon earlier this year.
Sector Context
The funding reflects continued investor interest in EV infrastructure as electric vehicle adoption increases in India. With participation from global investors such as Shell Ventures and Y Combinator, the company joins a growing group of charging operators raising capital to support network expansion.
"At Tenacity, we don’t just look for companies; we look for gritty founders who are building the backbone of future industries, " said Rohit Razdan, Managing Director of Tenacity Ventures. “Statiq is not just an EV charging company, but a full-stack deep-tech platform powering the energy transition. By integrating software intelligence with purpose-built hardware, they have built a resilient foundation for rapid scale. We believe they will become critical infrastructure for India’s electric future. We are proud to join them as co-founders in spirit, helping take their Indian success story to its boldest, global version."
