Statiq Secures $18M: Charging Up for Global EV Expansion

Statiq, a prominent player in the electric vehicle charging sector, announced securing approximately $18 million in funding. The investment, a mix of debt and equity, was led by Tenacity Ventures with significant participation from Y Combinator, Shell Ventures, and RCD Holdings.

The company plans to channel this fresh capital towards aggressively scaling its infrastructure and solidifying its presence in tier-1 and tier-2 cities. This includes expanding its network with more DC fast chargers along major highways, enhancing product uptime, and exporting 'Made in India' hardware globally.

Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq remains committed to its customer-first product roadmap, which will be bolstered by this investment. As India’s EV landscape emerges from a challenging period, Statiq aims to transition from a local leader to a significant global contender, leveraging advanced telematics and an improved hardware lifecycle.