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

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

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

In a assertion, Akshit Bansal, co-founder and chief authorities officer of Statiq, defined “Securing the primary closing of our Sequence A assures delivering on price-maximizing enlargement selections by now secured by Statiq, as we got down to assemble India’s main EV charging options group. Shell and Statiq share a eyesight of driving transformation in course of sustainable modes of transport. Buying Shell Ventures as an dealer is a milestone for Statiq.”

Began in 2020 by Akshit Bansal and Raghav Arora, Statiq is an EV infrastructure startup, performing to construct an EV charging group in massive cities all through India. Because the EV sector in India just isn’t large greater than sufficient to profitably run full scale charging stations analogous to gasoline stations, Statiq has partnered with space group websites like malls and eating places to established up charging shops at their premises. Statiq provides charging setups for 2, three and 4 wheeler autos, and in addition provides private charging stations to logistics suppliers to assist the entry {of electrical} motor automobiles of their supply chain.

Headquartered in Gurugram, Statiq has partnered with the Haryana Situation Govt to established up charging stations within the state, with designs to develop to different Tier-1 cities of India. The company has Ambitions to make the best EV charging group within the nation. “The plan is supplemented with firm varieties just like the residential charging stations, OEM partnerships or aggregation of present Third-celebration charging stations,” Bansal mentioned in an interview.

See also  CRED acquires Happay – a entire-stack cost administration platform for enterprises

When the Indian EV sector has witnessed its justifiable share of setbacks off late, It’s envisioned to entry a spectacular nicely price of $206 Bn by 2030, and EV charging is envisioned to be worthy of $25.5 Bn by 2027. Statiq, possessing a stable existence within the place, faces competitiveness with Demand Zone and Kazam among the many different individuals.