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Y Combinator-backed Statiq raised $25.7 M in Series A round

EV charging infrastructure company Statiq, located in India, has secured US $25.7 million in a Series A investment that was co-founded by Shell Ventures.

By using a smartphone app, Statiq’s customers may look for and reserve EV charging stations. The company was founded in 2019 by Akshit Bansal and Raghav Arora. By installing one of the startup’s charging stations in their location, property owners can also manage chargers and make extra money.

The business has a network of bike and automobile chargers that are situated in parking spaces in office buildings, retail centres, residences, restaurants, and hotels, among other places. Over 150 stations have been set up by Statiq in India so far, and more than 2,000 charging sessions have been supported.

The business stated that it intended to utilize the new funding to invest in network infrastructure and product engineering as well as to strengthen its core staff.

In 2020, Statiq participated in Y Combinator’s summer cohort and raised $150,000 in startup money.

 

 

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