Statiq raises $18 million in equity-debt round led by Tenacity Ventures to scale EV charging network
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Statiq has raised approximately $18 million in a blended equity and debt round, signalling renewed investor interest in India’s electric vehicle infrastructure sector after a prolonged funding slowdown.
The round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures and RCD Holdings. The capital comes as EV infrastructure players navigate tighter funding conditions and increasing scrutiny on profitability.
Execution-led growth model
Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq operates a full-stack EV charging platform, integrating proprietary AC and DC fast chargers with a software-led network management system. The company has built a presence across more than 100 cities and also aggregates third-party charging networks on its app.
Akshit Bansal, Co-Founder and CEO, said the company stayed focused on unit economics and operational reliability during the downturn. “This capital positions us for the next phase of scale,” he said.
Raghav Arora, Co-Founder and CTO, said the funding will strengthen hardware lifecycle management, software systems and telematics capabilities to support expansion.
Expansion across highways and tier-2 cities
Statiq plans to deploy additional DC fast chargers along key highway corridors and deepen its footprint in Tier-1 and Tier-2 cities. The company is targeting higher uptime and improved operational efficiency as EV adoption accelerates.
It also intends to expand overseas, building on pilot operations in the UAE and exporting hardware manufactured in India. The firm’s franchise-owned, company-operated (Foco) model, recently launched in Gurugram with a private partner, is aimed at scaling through asset-light expansion while retaining operational control.
Rohit Razdan, Managing Director at Tenacity Ventures, said the investment reflects a long-term infrastructure play aligned with India’s energy transition.
The fundraise indicates a revival of investor appetite for EV infrastructure platforms that demonstrate operational scale, revenue visibility and disciplined capital deployment.