Thursday, September 29, 2022
HomeInsightFunding Alert EV charging platform Statiq raises $25.7 mn in series A round

[Funding alert] EV charging platform Statiq raises $25.7 mn in series A round

[Funding alert] EV charging platform Statiq raises $25.7 mn in series A round

Electric vehicle charging company Statiq has raised $25.7 million in its Series A funding round from Shell Ventures.

Now the company plans to close the debt of Rs 50 crore next week.

The press statement added that this investment is the largest Series A round within the EV infrastructure space.

Read also – [Funding alert] BatX Energies raises $1.6 mn in seed round

The company plans to use the funds to design hardware and software for product development, network expansion and building a larger charging network.

The Delhi-NCR based Statiq was founded in 2020 by Akshit Bansal and Raghav Arora, It is developing a network of EV charging stations in major cities of the country. 

It has tied up with owners of public places like hotels, restaurants, malls and dhabas to install charging stations and solve key problems in the EV ecosystem. So far it has partnered with 20+ organizations to set up charging networks at their campuses.

On the B2C side, the company has provided charging infrastructure to 25K+ four-wheelers and 40K+ two-wheelers.

“Securing the first closing of our Series A ensures delivering on value-enhancing growth options already secured by Statiq as we set out to build India’s leading EV charging services company”, said, Akshit Bansal, Co-founder and CEO, Statiq.

Read also – [Funding alert] Decimal Point Analytics raises $4.7 mn in funding

“Shell and Statiq share a vision of actively driving the transformation towards sustainable modes of transport. Gaining Shell Ventures as an investor is a major milestone for Statiq”, he added.

Statiq has partnered with Government of Haryana and NASSCOM to set up charging stations. In addition, it now plans to expand to Tier 1 cities in North India, followed by Bengaluru, Hyderabad, Mumbai, Pune and Kolkata.

“Statiq will be able to tap into a wealth of operational excellence and accelerate working towards quality, safety, and environmental standards that are second to none by closely cooperating with Shell group experts as we grow”, said, Raghav Arora, Co-founder and CTO, Statiq.

With this funding, he added, “We plan to rapidly scale our business while continuing to invest further in technology, innovation, and product development.”

“With its consumer-centric approach, we believe Statiq is on track to lead the EV charging experience in India. Our investment in Statiq stands for our belief in their potential and our shared ambition to accelerate the electrification of mobility solutions”, said, Robert Linck, Chief Investment Officer, Shell Ventures.

About Statiq

Statiq is a smart public charging ecosystem. Users can locate and book EV chargers through our mobile app which also facilitates remote and seamless payment for the usage.

Read also – [Funding alert] Neuron7 raises $10 mn in funding

Statiq manufactures its proprietary smart EV chargers and also aggregates other public EV chargers. They provide complete EV charging solutions for Home, Public & Commercial charging.

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