New Delhi, February 18th, 2026 – EV charging infrastructure startup Statiq has raised $18 million (approximately ₹163.2 crore) in a combination of equity and debt funding. The round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings.
This latest investment follows the company’s $25.7 million Series A round in 2022, which was led by Shell Ventures. With fresh capital in hand, Statiq plans to accelerate the expansion of its EV charging network across India.
Funds to Scale EV Charging Network and Technology
According to the company, the new funding will be used to:
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Expand EV charging infrastructure across Tier I and Tier II cities
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Improve hardware lifecycle management
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Enhance advanced telematics capabilities
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Strengthen operational efficiency
Statiq aims to significantly increase the number of installed charging stations and strengthen its position in India’s rapidly growing electric vehicle ecosystem.
About Statiq: Building India’s EV Charging Ecosystem
Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq develops and operates EV charging infrastructure while also running a consumer mobile application that allows users to locate and book charging points.
The startup operates through a combination of hardware and software-driven services. Its hardware business — including EV chargers and related infrastructure — contributes the majority of its revenue.
In addition, Statiq has partnered with the State Bank of India (SBI) to offer financing solutions for EV charging stations, helping accelerate infrastructure deployment across the country.
Expanding Charging Network Across 100 Cities
Statiq has collaborated with government bodies, automakers, and hospitality companies to scale its charging footprint. The company claims to have installed over 10,000 EV chargers across approximately 100 cities in India.
Through its mobile app, users can access charging services not only from Statiq’s own network but also from partner networks such as E-Fill, Sunfuel, and GLIDA, enhancing interoperability and customer convenience.
Growing Competition in EV Charging Infrastructure Market
India’s EV charging sector is becoming increasingly competitive, with several well-funded startups including Charge Zone, ElectricPe, Bolt.Earth, and IPEC expanding aggressively.
To stay ahead, Statiq has set an ambitious goal of doubling its installed charger base by the end of 2026, positioning itself as a key player in India’s transition toward electric mobility.
India’s EV Charging Opportunity
With rising EV adoption, supportive government policies, and increasing demand for accessible charging infrastructure, the Indian EV ecosystem is entering a high-growth phase. Startups like Statiq are playing a critical role in bridging the infrastructure gap and enabling sustainable transportation.
The latest funding round reinforces investor confidence in the long-term growth potential of India’s EV charging infrastructure market.
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape.