Statiq raises $18 million in equity and debt funding round

Statiq announced that it has raised approximately $18 million through a mix of equity and debt. The round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings.

Statiq said it will use the funds to expand its charging network across Tier-1 and Tier-2 cities and deploy additional DC fast chargers along highways. The company also plans to invest in uptime improvement initiatives, hardware upgrades, and telematics systems. It intends to explore international markets, including building on pilot projects in the UAE.

The company is also expanding its FOCO (Franchise-Owned, Company-Operated) model, under which partners invest in hardware while Statiq manages operations. The program was launched with SS Group’s Gurgaon location in January.

The funding comes at a time when India’s electric vehicle (EV) infrastructure sector has been navigating funding constraints. The company stated that the capital will support expansion and operational scaling. Tenacity Ventures, led by Rohit Razdan, focuses on early-growth investments. Razdan stated that the firm views Statiq as a technology-driven platform operating in the EV charging segment. With participation from Shell Ventures and Y Combinator, the round reflects investor interest in renewable energy.

Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq develops and operates AC and DC chargers integrated with software systems. The company said it focused on improving unit economics and product performance during the recent funding slowdown.

Akshit Bansal, Co-Founder and CEO, said, “This isn’t just a funding announcement; it’s a validation of a 20-year mission. 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.”

“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.”

Statiq operates a mobile application that enables users to access its chargers as well as partner networks, including E-Fill, Sunfuel, and GLIDA. The company reported that it has collaborations with government bodies, automakers, and hospitality companies across more than 100 cities, with over 10,000 AC and DC charging points. It plans to install 20,000 charging points in India by 2026.

Also read: VE Commercial Vehicles partner with Statiq for Eicher EV charging access