Gurugram-based electric vehicle (EV) charging network operator Statiq has raised about ₹18 million through a mix of debt and equity.

The funding round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings.

The fresh capital will be used to aggressively expand its charging infrastructure and deepen its footprint across tier-1 and tier-2 cities.

A significant portion of the investment will go towards deploying more DC fast chargers along key highway corridors, enhancing product reliability to achieve 99.9% uptime, and accelerating EV adoption.

Founded in 2020 by Akshit Bansal and Raghav Arora, the company operates EV charging networks.

Statiq also plans to expand internationally by exporting its ‘Made in India’ hardware, building on successful pilot projects in the UAE.

Additionally, the funds will support improvements in hardware lifecycle management and the integration of advanced telematics systems to enable seamless network scaling.

Last month, the company launched its first Franchise-Owned, Company-Operated (FOCO) EV charging station in Gurgaon. The deployment marked Statiq’s first implementation of the FOCO model, under which franchise partners own the charging infrastructure while Statiq manages end-to-end operations, including station performance, service quality, and on-ground execution.

In November last year, the company partnered with BMW Group India to power a 4,000 km high-speed charging corridor from Jammu to Madurai. The collaboration focuses on bringing reliable, high-power charging every 300–350 km.

Statiq’s network comprises over 8,000 chargers live across 70 cities. Its next goal is to expand to 20,000 charging points by 2026.

In 2024, it secured a tender from Bharat Petroleum Corporation (BPCL) to enhance EV infrastructure. The project included developing a custom app for BPCL and integrating its existing network of 2,800 chargers, comprising 2,000 AC and 800 DC chargers, into Statiq’s platform.

Earlier, Statiq had won a tender to supply 18 chargers to the Indian Oil Corporation.