It plans to use the funds towards product development, network expansion and building the core team
Statiq is building EV infrastructure for which it provides residential charging stations, OEM partnerships or aggregation of existing third-party charging stations
On the B2C side, the startup has provided charging infrastructure to 25K+ four-wheelers and 40K+ two-wheelers
EV charging infrastructure startup Statiq has raised INR 200 Cr ($25.7 Mn) in its Series A round led by Shell Ventures. The startup now plans to close an INR 50 Cr debt round next week.Bansal told Inc42 that the idea is to build the largest network of EV charging stations possible. “The idea is supplemented with business models like the residential charging stations, OEM partnerships or aggregation of existing third-party charging stations.”
It plans to use the funds towards product development, network expansion and designing hardware & software to build a large charging network. The funds will be utilised over two years, the founders told Inc42.