Statiq, a fast-growing company that builds charging stations for electric vehicles (EVs) in India, has raised $18 million (about ₹150 crore) in a new round of funding. Tenacity Ventures led the investment, with Tata Opportunities Fund, Taronga Ventures, and JSW Ventures, which is already an investor, also taking part. This money will help Statiq quickly grow its network of EV charging stations all over the country.
Funding Details and Investors
The latest funding round was headed by Tenacity Ventures, a US-based venture capital firm that focuses on early-stage technology companies. JSW Ventures, which has helped Statiq in the past, and Tata Opportunities Fund and Taronga Ventures also took part in the round.
The new capital will be used to increase the company’s charging footprint, accelerate technology development, and improve customer experience for EV owners.
Growth Strategy and Network Expansion
Statiq wants to add more EV charging stations in a lot of Indian cities, focusing on highways, residential complexes, workplaces, and public places. The goal is to help ease “range anxiety,” which is a common worry among electric vehicle (EV) users about how far they can go before needing to charge.
The company already runs a lot of charging stations and wants to expand its presence in both urban and semi-urban areas. Statiq plans to use this new money to install more fast chargers and make charging faster and more reliable.
Market Potential and Industry Context
The Indian electric vehicle market is growing quickly, thanks to government policies and more people wanting cleaner ways to get around. But one of the biggest problems has been the lack of reliable and widespread charging infrastructure. Money like this really helps make the network stronger so that a lot of people can use EVs.
Industry experts say investments in charging infrastructure are essential to accelerate India’s shift toward electric mobility.
Quotes from Leadership
Commenting on the funding, a Statiq spokesperson said the new funds will help the company scale operations faster and bring more innovative solutions to the EV ecosystem. They added that improved infrastructure will increase confidence among EV buyers and support India’s clean energy goals.
A Tenacity Ventures representative said they are excited to work with Statiq to help its mission to expand EV charging in India. They pointed out that India has a huge market potential and that more and more people are buying electric vehicles.
This investment puts Statiq in a great position to become a big player in India’s electric vehicle charging network. The money will help make technology better, increase the number of charging stations, and give EV users all over the country better service. This growth is in line with India’s bigger goals of reducing pollution, promoting eco-friendly transportation, and building clean energy infrastructure for the future.
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