Electric vehicle charging network Statiq has raised $18 million in a fresh funding round led by Tenacity Ventures, marking a major milestone in the company’s growth journey. Meanwhile, existing investors Y Combinator and Shell Ventures, along with RCD Holdings, also participated in the round.
With the new capital, Statiq plans to rapidly scale its charging infrastructure and expand its footprint across Tier I and Tier II cities in India. Additionally, the company will deploy a significant portion of the funds to roll out more DC fast chargers along key national highways, thereby strengthening long-distance EV travel.
At the same time, Statiq will channel part of the investment toward pilot export projects in the UAE, signaling its intent to enter international markets. Furthermore, the company will invest in improving hardware lifecycle management and deploying advanced telematics to support large-scale network expansion.
Calling the funding a long-term validation, Akshit Bansal, Co-Founder and CEO of Statiq, said the milestone reflects decades of perseverance. “This is not just a funding announcement; instead, it validates a 20-year mission,” said Akshit Bansal. “We navigated multiple cycles in this sector, yet we stayed focused on execution and unit economics. Moreover, we built infrastructure that performs reliably from the heat of Rajasthan to the humidity of Kerala. Now, this capital enables us to move beyond India and compete on a global stage.”
Founded in 2020 in New Delhi by Akshit Bansal and Raghav Arora, Statiq currently operates a franchise-owned, company-operated model. Under this structure, partners own the charging hardware while Statiq manages technology, operations, and network optimization. Notably, the company plans to install nearly 20,000 charging points across India by the end of this year.
From an investor perspective, Tenacity Ventures highlighted the strategic importance of Statiq’s platform. “At Tenacity, we back founders who are building the backbone of future industries,” said Rohit Razdan, Managing Director at Tenacity Ventures. “Statiq operates as a full-stack deep-tech platform that blends intelligent software with purpose-built hardware. As a result, we believe the company will emerge as critical infrastructure for India’s electric mobility future and beyond.”
By scaling infrastructure across cities and highways, investing in advanced technology, and testing international markets, the company continues to build critical backbone infrastructure for the future of electric mobility.
