Statiq's Shocking $18 Million Funding: What This Means for Your EV Future!

Electric vehicle (EV) infrastructure is expanding rapidly, a development highlighted by the recent funding achievement of the Indian startup Statiq. The company has secured $18 million in a funding round led by Tenacity Ventures, with participation from existing investors such as Y Combinator, Shell Ventures, and RCD Holdings. This funding is structured as a mix of equity and debt, aimed at boosting Statiq’s operations in the burgeoning EV market.

Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq is on a mission to make EV charging more accessible. The startup operates a network of AC (alternating current) and DC (direct current) fast chargers and has developed a consumer app that helps users discover, access, and pay for charging services. This app allows EV owners to seamlessly connect with charging stations, enhancing the overall convenience of electric vehicle use.

Statiq has established its presence in over 100 cities, boasting more than 10,000 charging points. With these impressive figures, the company aims to expand its network further, particularly by adding more DC chargers along highways and in tier I and II cities. They also plan to enhance the reliability of their services by investing in hardware lifecycle management and telematics.

“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,” stated Bansal, who serves as the CEO.

As part of its growth strategy, Statiq is rolling out a franchise-owned, company-operated model. This allows local partners to invest in charging hardware while Statiq manages the day-to-day operations. This model was recently implemented in Gurugram, in partnership with the SS Group, a real estate developer based in the National Capital Region of India.

In 2022, Statiq secured $25.7 million in a previous funding round led by Shell Ventures, demonstrating strong investor confidence in the startup’s vision and operational potential. Recently, the company reported a revenue of Rs 79.3 crore and a net loss of Rs 68.2 crore for the fiscal year ending in March 2025, indicating the growing pains typical of startups on the fast track to expansion.

The competition in the EV charging sector is fierce, with emerging startups like Charge Zone, Exponent Energy, Kazam, and Ather Grid — a fast-charging public network for electric two-wheelers developed by Ather Energy — all vying for market share. Despite this stiff competition, Statiq is positioning itself as not just a charging company, but a full-stack deep tech platform that supports the energy transition.

Beyond its domestic market, Statiq is eyeing international opportunities and has already piloted deployments in the UAE. Additionally, the startup plans to export charging hardware manufactured in India, showcasing its ambition to become a global player in the EV infrastructure sector.

“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,” remarked Rohit Razdan, managing director at Tenacity Ventures.

As the world shifts toward electric mobility, initiatives like Statiq’s not only contribute to the growing infrastructure necessary for EVs but also highlight the startup's commitment to ensuring that this technology is both accessible and efficient across varied climates and geographies. With this fresh injection of capital, Statiq is poised to strengthen its position in a rapidly evolving market that is increasingly critical to the future of transportation.