Electric vehicle charging startup Statiq has raised $18 million (around ₹163 crore) in a funding round led by Tenacity Ventures, signalling growing investor confidence in India’s EV infrastructure. Existing backers including Y Combinator, Shell Ventures and RCD Holdings also participated, with the round comprising a mix of equity and debt.
Expansion plans and deployment focus
Founded in 2020 and headquartered in Gurugram, Statiq provides integrated hardware and software solutions for EV charging, serving passenger cars, two‑wheelers and commercial fleets. The company says it will use the fresh capital to expand its network across Tier‑I and Tier‑II cities, strengthen coverage along major highways and urban corridors, and improve intercity charging availability.
A significant share of the funds will be channelled into deploying additional DC fast chargers and AC stations, enhancing charger uptime and extending hardware lifecycle through better maintenance and monitoring systems. Backend technology upgrades aimed at improving reliability and performance are also part of the investment plan.
Technology, partnerships and network
Statiq differentiates itself with a digital platform that enables users to locate, book and pay for charging sessions, and provides real‑time charger availability to help plan journeys. The startup has forged partnerships with real estate developers, commercial property owners, hotels, automobile OEMs and fleet operators to install chargers at malls, offices, residential complexes and highway stops.
Over the past years, Statiq has expanded operations to more than 100 cities and installed thousands of charging points, building a nationwide presence that supports its scaling strategy in a competitive market.
Market context and outlook
India’s EV adoption is accelerating, supported by government incentives and policy measures, but charging infrastructure remains a critical bottleneck. The EV charging segment is increasingly competitive, with multiple startups and established firms racing to scale capacity. Investors’ continued support for Statoq underscores confidence in its technology stack, partnerships and growth plan.
The company has indicated a target to substantially increase installed charging capacity over the coming years, positioning itself as a key private‑sector contributor to India’s clean mobility transition.
