Statiq, leading electric vehicle (EV) charging network has announced a fresh capital infusion of around $18 million. The funding round, blending equity and debt, was led by Tenacity Ventures, with key participation from Y Combinator, Shell Ventures, and RCD Holdings.
This raise comes amid a crucial moment for India’s EV ecosystem, emerging from a tough ‘capital winter’ that challenged many infrastructure players. Statiq’s success stands as a strong ‘conviction signal’, shifting the focus from hype to execution-driven growth and cementing its role as a resilient leader in clean tech.
Founded in 2020 by Akshit Bansal (CEO) and Raghav Arora (CTO), Statiq has built a full-stack solution, proprietary AC/DC fast chargers paired with seamless software, powering one of India’s largest networks.
Statiq founder & CEO Akshit Bansal 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.”
Statiq plans to utilise the funds to aggressively scale its infrastructure and strengthen its presence across tier-1 and tier-2 cities in India. It will deploy the funds to fuel network expansion with more DC fast chargers along key highways, upgrade products for 99.9% uptime to boost EV adoption, and push globally by exporting hardware, building on successful UAE pilots. The investment will also power hardware lifecycle improvements and advanced telematics for seamless scaling.
Statiq co-founder & CTO Raghav Arora said: “Our product roadmap has always been customer-first. 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.”
The entry of Tenacity Ventures as the lead investor underlines the shift toward long-term, deep-tech investing. Tenacity Ventures focuses on early-growth stages and looks for IPO-scale potential in founders solving real-world problems.
Tenacity Ventures MD Rohit Razdan said :” Statiq is not just an EV charging company, but a full-stack deep-tech platform powering the energy transition. By integrating software intelligence with purpose-built hardware, they have built a resilient foundation for rapid scale. We believe they will become critical infrastructure for India’s electric future.”
Statiq is also empowering locals via its FOCO (Franchise-Owned, Company-Operated) programme, launched with SS Group’s Gurgaon station in January. Partners own hardware while Statiq manages ops, turning entrepreneurs into green energy allies.