EV charging network Statiq has raised approximately $18 million in a blended equity and debt round to expand its charging infrastructure across India and enter international markets. The round, announced in New Delhi on February 19, 2026, was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings.
Founded in 2020 by Akshit Bansal and Raghav Arora, the company operates what it describes as one of India's largest EV charging networks, spanning over 10,000 AC and DC chargers across more than 100 cities.
Statiq builds its own proprietary AC and DC fast chargers and pairs them with in-house software, telematics, and network management tools. The company plans to deploy the new capital to install more DC fast chargers along key highways, upgrade its network to target 99.9% uptime, and export its hardware internationally, building on pilot deployments already underway in the UAE. The raise also covers hardware lifecycle management improvements and advanced telematics for scale.
In parallel, Statiq is expanding its FOCO (Franchise-Owned, Company-Operated) model, through which partners own charging hardware while Statiq manages day-to-day 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. "We've seen the highs and lows of the sector, but our focus remained on the ground, literally. We survived the downturn by executing on unit economics and building a product that works as well in the heat of Rajasthan as it does in the humidity of Kerala. This capital allows us to move from being a leader in India to a contender on the global stage."
"Our product roadmap has always been customer-first," said Raghav Arora, Co-Founder and CTO of Statiq. "With this capital, we'll harden our stack for scale — hardware lifecycle management, software-strengthening, telematics, and global systems that let partners build on our innovations."
"Statiq is not just an EV charging company, but a full-stack deep-tech platform powering the energy transition," said Rohit Razdan, Managing Director of Tenacity Ventures. "By integrating software intelligence with purpose-built hardware, they have built a resilient foundation for rapid scale."
The company has existing tie-ups with government bodies, automakers, and hospitality players, and its app aggregates charging access from third-party networks including E-Fill, Sunfuel, and GLIDA in addition to its own chargers. Statiq has set a target of 20,000 charging points installed across India by 2026.