PE-VC Fund Investments
EV charging network Statiq raises $18-M
Gurugram-based electric vehicle (EV) charging network Statiq has raised USD 18 million (INR 163.2 Cr) in a mix of equity and debt funding led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings.Founded in 2020 by Raghav Arora and Akshit Bansal, Statiq provides end-to-end EV charging solutions, including the manufacturing of AC/DC smart chargers, development of a mobile app for locating and booking slots, and management of charging infrastructure for commercial and residential partners.The company plans to use the new funds to scale its charging infrastructure, expand its presence across Tier I and II cities, install DC fast chargers across key highways, upgrade products to achieve "99.9% uptime", and begin exporting hardware to global markets. The investment will also support hardware lifecycle improvements and advanced telematics.
In Jun-22, Statiq had attracted about USD 26 M from Shell Technology Ventures.For FY24, Statiq had reported about INR 41 Cr in Operating Income and about INR 45 Cr in Net Loss.
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