Statiq secures $18-mn funding

Mumbai — Statiq, an electric vehicle charging network operator, said on Wednesday it has raised around $18 million in a financing round composed of both debt and equity, led by Tenacity Ventures with participation from Y Combinator, Shell Ventures and RCD Holdings. The company said the capital will be used to accelerate rollout of charging infrastructure across tier‑1 and tier‑2 cities, expand its DC fast charger network along key highways, and enhance product reliability and lifecycle management.

"Made in India" hardware will be pushed to global markets as part of Statiq's expansion strategy, the company said, building on successful pilots in the UAE.

Deal structure and immediate priorities

According to the company announcement, the roughly $18‑million package combines equity and debt to support simultaneous growth on several fronts. Statiq highlighted four immediate areas of focus:

• Aggressive scaling of infrastructure across major urban centres and secondary cities.
• Deployment of more DC fast chargers along key highways to support long‑distance EV travel.
• Product upgrades targeting 99.9 per cent uptime to improve reliability and boost EV adoption.
• Hardware lifecycle improvements and the rollout of advanced telematics to enable seamless scaling and operational efficiency.

The funding round was led by Tenacity Ventures, with key participation from accelerator and investor Y Combinator, strategic investor Shell Ventures, and RCD Holdings. Statiq did not disclose the split between debt and equity or individual investor allocations beyond naming the participants.

Context and strategy

Statiq has positioned the capital raise as both a domestic growth lever and a springboard for international ambitions. The company emphasised exporting its “Made in India” hardware after pilots in the UAE, framing the move as an opportunity to commercialise its technology in overseas markets while continuing to build out the domestic network.

Operationally, the company pointed to upgrades aimed at achieving 99.9 per cent uptime for its charging products — a figure it cited as central to fostering greater EV adoption among consumers who depend on dependable public charging. Advanced telematics and lifecycle management were highlighted as technical enablers to support a rapidly expanding hardware footprint without compromising service levels.

Outlook

With backing from a mix of venture and strategic investors, Statiq enters the next phase of scaling with explicit goals for both network density and product robustness. The focus on DC fast chargers along highways targets one of the critical pain points for EV users — long‑distance travel — while the stated uptime and telematics improvements aim to reduce operational friction as the network grows.

As the company builds on its UAE pilots and prepares to market Indian‑made charging hardware overseas, the new capital will be a test of its ability to translate investor support into reliable, widely available charging infrastructure and a competitive export product.