Autobayng News Team
(Left to Right) Akshit Bansal, Co-Founder & CEO, Statiq, Raghav Arora, Co- Founder & CTO, Statiq“>
Statiq has secured approximately $18 million in fresh funding as investor interest returns to India’s electric vehicle infrastructure space after a prolonged funding slowdown.
The round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures and RCD Holdings. The raise comprises a blend of equity and debt.
Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq operates a full-stack EV charging platform combining proprietary AC and DC fast chargers with software systems.The company said the capital will be used to expand its network across Tier-1 and Tier-2 cities, deploy additional DC fast chargers along highways and enhance uptime to 99.9 per cent. Investments will also be directed towards hardware lifecycle management, advanced telematics and global-ready systems, as it looks to export Made-in-India hardware following pilot deployments in the UAE.“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.”Statiq is also scaling its Franchise-Owned, Company-Operated (FOCO) model, under which partners invest in charging assets while the company manages operations.
The funding signals renewed investor confidence in India’s EV infrastructure segment amid accelerating electrification trends.
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