November 30, 2022



YC backed EV Infra startup Statiq lands $26 Mn in newest spherical

Gurugram-based EV infrastructure startup Statiq has raised $25.7 Mn (About ₹200 Cr) in its collection A spherical, led by Shell Ventures.

In a press release, Akshit Bansal, co-founder and chief govt officer of Statiq, mentioned “Securing the primary closing of our Sequence A ensures delivering on value-enhancing development choices already secured by Statiq, as we got down to construct India’s main EV charging companies firm. Shell and Statiq share a imaginative and prescient of driving transformation in the direction of sustainable modes of transport. Having Shell Ventures as an investor is a milestone for Statiq.”

Based in 2020 by Akshit Bansal and Raghav Arora, Statiq is an EV infrastructure startup, working to develop an EV charging community in main cities throughout India. For the reason that EV market in India just isn’t massive sufficient to profitably run full scale charging stations analogous to gasoline stations, Statiq has partnered with native public locations like malls and eating places to arrange charging retailers at their premises. Statiq gives charging setups for 2, three and 4 wheeler autos, and in addition gives personal charging stations to logistics corporations to facilitate the entry of electrical autos of their provide chain.

Headquartered in Gurugram, Statiq has partnered with the Haryana State Authorities to arrange charging stations within the state, with plans to develop to different Tier-1 cities of India. The corporate has Ambitions to create the most important EV charging community within the nation. “The concept is supplemented with enterprise fashions just like the residential charging stations, OEM partnerships or aggregation of current third-party charging stations,” Bansal mentioned in an interview.

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Whereas the Indian EV market has seen its fair proportion of setbacks off late, It’s anticipated to succeed in an impressive price of $206 Bn by 2030, and EV charging is anticipated to be price $25.5 Bn by 2027. Statiq, having a powerful presence within the nation, faces competitors with Cost Zone and Kazam amongst others.