Statiq raises $18 million, eyes UAE expansion and more highway EV chargers

EV charging network Statiq has recently raised about $18 million through a mix of equity and debt to expand its charging network in India and enter international markets.Tenacity Ventures led the funding, with participation from Y Combinator, Shell Ventures, and RCD Holdings.

Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq operates more than 10,000 AC and DC chargers across over 100 cities in India. The company claims to design and build its own chargers and supports them with in-house software, telematics, and network management systems.
The company will use the funds to install more DC fast chargers along key highways, upgrade its network to target 99.9% uptime, and export its hardware.Pilot deployments are already underway in the UAE. The investment will also support hardware lifecycle management and advanced telematics to scale operations.

Statiq is also expanding its FOCO (Franchise-Owned, Company-Operated) model, under which partners own the charging hardware while the company manages daily operations. The programme launched its first station with SS Group in Gurgaon in January 2026.

“This isn’t just a funding announcement; it’s a validation of a 20-year mission,” said Akshit Bansal, Co-Founder and CEO of Statiq.

Statiq has partnerships with government bodies, automakers, and hospitality companies. Its app also provides access to third-party charging networks, including E-Fill, Sunfuel, and GLIDA, in addition to its own stations. The company aims to install 20,000 charging points across India by 2026.