Statiq Secures USD 18 Million Funding to Expand EV Charging Network

• EV charging network operator Statiq has secured USD 18 million in funding, a mix of debt and equity.
• The funding round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings.
• Statiq plans to use the capital to expand its infrastructure in tier-1 and tier-2 cities and deploy more DC fast chargers on highways.
• The company aims to upgrade products for 99.9% uptime, boost EV adoption, and export "Made in India" hardware globally after successful UAE pilots.
• Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq offers a full-stack solution with proprietary AC/DC fast chargers and software.