Statiq Raises $18 Mn to Accelerate EV Charging Expansion Across India and Beyond

Statiq, a New Delhi–based electric vehicle (EV) charging network provider, has raised $18 million in a fresh funding round led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings. The funding marks a significant milestone for the fast-growing startup as it accelerates its mission to build reliable and scalable EV charging infrastructure across India.

Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq has emerged as one of India’s most prominent EV charging platforms, addressing a critical gap in the country’s clean mobility ecosystem. The company operates on a franchise-owned, company-operated (FOCO) model, allowing it to scale rapidly while maintaining tight control over quality, uptime, and user experience.

With the fresh capital, Statiq plans to aggressively expand its charging footprint across Tier I and Tier II cities, where EV adoption is rising steadily but charging access remains uneven. A key focus area will be the rollout of DC fast chargers along major highways, aimed at enabling long-distance EV travel and reducing range anxiety, one of the biggest barriers to EV adoption in India.

Beyond domestic expansion, Statiq is also looking outward. The startup plans to pilot exports to the UAE, marking its first step towards international markets. This move reflects growing global interest in India-built EV infrastructure technology and Statiq’s ambition to become a cross-border player in the EV charging space.

A portion of the funds will also be deployed to strengthen hardware lifecycle management, ensuring higher charger uptime and operational efficiency. Additionally, Statiq plans to invest in advanced telematics and software capabilities, enabling real-time monitoring, predictive maintenance, and improved charger performance analytics. These upgrades are expected to significantly enhance reliability for both EV users and fleet operators.

Statiq has set an ambitious target of deploying 20,000 charging points nationwide within this year, reinforcing its position as a key enabler of India’s EV transition. As government policies, automakers, and consumers increasingly align around electric mobility, the demand for dependable charging infrastructure is accelerating rapidly.

This funding round underscores strong investor confidence in Statiq’s business model, execution capability, and long-term vision. As India moves closer to a cleaner, electrified future, Statiq’s continued expansion could play a pivotal role in shaping the country’s EV charging backbone, making electric mobility more accessible, scalable, and sustainable for millions of users.