Statiq raises $18 million to expand its electric vehicle charging network

NEW DELHI, Feb 20 — Statiq, a leading Indian electric vehicle (EV) charging infrastructure provider, has raised $18 million in its latest funding round to accelerate the expansion of its charging network across the country.

The fresh capital, secured through a mix of equity and debt, is expected to bolster Statiq’s efforts to scale up its public EV charging stations and strengthen its technology platform. The company, which operates one of India’s largest EV charging networks, said the funding would be used to deploy more charging points in key urban areas and along highways, addressing a critical need in India’s growing EV ecosystem.

Why it matters

India’s push towards electric mobility hinges on the availability of reliable charging infrastructure. With the government setting ambitious targets for EV adoption, investments in charging networks like Statiq’s are seen as essential to encourage more consumers and businesses to switch to electric vehicles. The new funding comes at a time when both public and private players are ramping up efforts to address range anxiety and improve the convenience of EV ownership.

Statiq currently operates thousands of charging points across major Indian cities and is aiming to further extend its network to meet rising demand. The company’s platform allows users to locate, book, and pay for charging sessions through a mobile application, streamlining the charging process for EV owners.

Details

The $18 million round included participation from existing and new investors, though specific names were not disclosed in the initial reports. The funding mix of equity and debt will help Statiq maintain operational flexibility as it invests in hardware, software, and partnerships with real estate and mobility companies.

India’s EV market has witnessed significant growth over the past year, with record sales in both the two-wheeler and four-wheeler segments. However, a lack of widespread charging infrastructure remains a major barrier to broader adoption. Companies like Statiq, along with government initiatives, are working to bridge this gap by installing fast chargers at strategic locations and integrating payment solutions for seamless user experiences.

According to industry estimates, India will require hundreds of thousands of public charging points to support its EV targets by 2030. Investments such as Statiq’s latest round are viewed as crucial steps toward achieving this goal. The company has previously partnered with various municipal bodies, shopping malls, and fleet operators to deploy charging stations.

No direct expert quotes found in the original source.

Key takeaways

• Statiq raised $18 million in equity and debt to expand its EV charging network.
• Funds will be used to deploy more charging points and enhance technology.
• The move supports India’s broader push for electric mobility and infrastructure development.

TL;DR: Statiq has secured $18 million in new funding to grow its EV charging network across India, aiming to make EV ownership more convenient and support the country’s transition to electric mobility.

Sources

• mercomindia.com, 2024-02-20, Read original

Statiq, an Indian electric vehicle (EV) charging network provider, secured $18 million in a recent funding round led by Y Combinator and existing investors. The company plans to use the capital to scale up its charging infrastructure across major cities, enhance its technology platform, and expand partnerships with fleet operators and real estate developers. Statiq currently operates over 7,000 charging points nationwide and aims to accelerate the adoption of electric mobility by making charging more accessible and reliable for EV users in India.

Statiq, a leading Indian electric vehicle (EV) charging network provider, raised $18 million in a recent funding round led by Yournest Venture Capital and other existing investors. The company plans to utilize the fresh capital to accelerate the deployment of EV charging stations across India, improve its technology platform, and expand partnerships with real estate developers, fleet operators, and OEMs. With this investment, Statiq aims to strengthen its presence in both urban and highway locations, supporting the growing adoption of electric mobility in the country.

Sources & quotes

• Publishing domain: google.com
• Published date: 2026-02-20T18:57:14+05:30
• Original URL: Read original (news.google.com/rss/articles/CBMiigFBVV95cUxPLUs2TXdlVDk5NnpIN1UzY0tIOEY1Z… …)

Editorial Check

• Originality: 20 / 100 — The story appears to be a standard funding announcement with little unique analysis.
• Helpfulness: 60 / 100 — The article is moderately useful for readers interested in EV infrastructure developments in India.