Indian electric vehicle (EV) charging infrastructure startup Statiq has raised USD 18 million in a fresh funding round, signalling renewed investor interest in the country’s EV ecosystem after a period of slowdown. The financing comes as a mix of equity and debt and was led by Tenacity Ventures, with participation from prominent backers such as Y Combinator, Shell Ventures and RCD Holdings.
Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq operates a full-stack EV charging platform that combines proprietary AC and DC fast chargers with digital software to help EV drivers locate, book and pay for charging sessions. The company currently serves passenger cars, two-wheelers and commercial fleets, and has rapidly expanded its network throughout India.
According to the company, the new capital will be directed toward scaling up its charging infrastructure, especially in Tier-I and Tier-II cities, and strengthening its presence along major highways and urban corridors. A significant portion of the funds is earmarked for deploying additional DC fast chargers, improving charger uptime and hardware lifecycle, and enhancing back-end systems including advanced telematics and reliability tools.
Statiq’s leadership says the funding is more than just financial support — it represents a validation of its long-term mission to build resilient and widespread EV charging infrastructure across India. Co-founder and CEO Akshit Bansal noted that the company endured a challenging funding environment in recent years by focusing on strong unit economics and robust product performance in diverse conditions nationwide.
In recent years, Statiq has also forged strategic partnerships and programmes to accelerate network growth. These include a financing collaboration with State Bank of India to help establish more charging stations, as well as ties with government bodies, automakers and hospitality companies to expand coverage to about 100 cities with over 10,000 chargers installed.
The EV charging sector in India remains competitive, with several players vying for market share. With the latest funding, Statiq aims to double its number of installed chargers by the end of 2026 and eventually take its “Made-in-India” hardware to global markets. Industry analysts view this investment as a sign of growing confidence among investors in sustainable mobility infrastructure and India’s accelerating EV adoption.
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