Statiq raises $18 million led by Tenacity Ventures to expand EV charging network in India

Indian EV charging network Statiq has raised $18 million in a funding round led by Tenacity Ventures. The capital will be used to expand the company's charging infrastructure across India. The news was reported by ascendants.in.

Why it matters: The investment signals continued investor confidence in India's EV charging buildout, providing Statiq with resources to scale its network and compete for a growing share of the country's charging market.