Search: Tenacity Ventures

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.

Statiq has raised approximately $18 million in a blended equity and debt round 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 a full stack EV charging platform across more than 100 cities in India, integrating proprietary AC and DC fast chargers with network management software. The funding will support deployment of additional DC fast chargers along key highway corridors, deeper penetration in Tier 1 and Tier 2 cities, and overseas expansion building on existing pilot operations.

Why it matters: The round signals renewed investor confidence in India's EV infrastructure sector after a prolonged funding slowdown, with capital directed toward hardware lifecycle management, software systems and telematics to support operational scale. For procurement teams and CPOs, Statiq's focus on unit economics and uptime reliability during expansion offers a model for sustainable network growth in emerging markets.