Statiq Secures $18 Million Funding to Scale EV Charging Network Across India

Indian electric vehicle (EV) charging startup Statiq has officially announced the closing of an $18 million (approx. ₹163 crore) funding round. The fresh infusion of capital, consisting of both equity and debt, was led by Tenacity Ventures and marks a significant milestone for India’s EV infrastructure sector during a period of cautious investment.

The round also saw strong participation from existing backers, including global heavyweights like Y Combinator, Shell Ventures, and RCD Holdings.

Accelerating India’s EV Infrastructure: Where the $18M Will Go

Statiq intends to use the funds to solve the "range anxiety" often cited by Indian EV owners. According to the company, the strategic roadmap for this capital includes:

• Expansion into Tier-I and Tier-II Cities: Bridging the gap between major metros and smaller urban centers.

• Highway Fast-Charging Corridors: Deploying high capacity DC fast chargers along major national highways to facilitate long distance travel.

• Hardware and Software Upgrades: Investing in advanced telematics and hardware lifecycle management to ensure a target 99.9% uptime for chargers.

• Global Ambitions: Leveraging success in India to explore international pilot projects, specifically in the UAE.

Statiq’s Growth Story: From 2020 to 20,000 Charging Points

Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq has rapidly grown into a "full stack" player, manufacturing its own hardware and managing a user friendly mobile app. Currently operating in over 100 cities with 10,000+ chargers, the company has set an ambitious goal to reach 20,000 charging points by the end of 2026.

"This capital allows us to move from being a leader in India to a contender on the global stage," said Akshit Bansal, Co-founder & CEO. "We survived the downturn by focusing on unit economics and building a product that works as well in the heat of Rajasthan as it does in the humidity of Kerala."

The Competitive Landscape of India’s EV Market

The funding comes at a time when the Indian EV market is reaching a tipping point. While Statiq faces competition from players like Charge Zone, ElectricPe, and Bolt.Earth, its focus on high reliability hardware and strategic partnerships such as its financing program with the State Bank of India (SBI) gives it a unique edge.

Quick Facts: Statiq Funding Round 2026

Why This Matters for EV Owners

For the everyday driver, this means more reliable "scan-and-charge" points and fewer "broken" chargers. As more automakers like Tata Motors and Mahindra launch new EV models in 2026, the expansion of networks like Statiq is critical to supporting the mass adoption of green mobility in India.