Fundraising - JUNE 23, 2022

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Statiq closes largest series A round within the EV infrastructure space

by Kali Persall

Statiq, an EV charging infrastructure startup, has secured INR 200 Crore ($25.7 million) in a series A funding round led by Shell Ventures. This investment is believed to be the largest series A round within the EV infrastructure space.

The funds will be used to develop products, expand the company’s network, and design hardware and software to build a large charging network, according to various news sources. The funds will be utilized over two years.

“Securing the first closing of our Series A ensures delivering on value-enhancing growth options already secured by Statiq, as we set out to build India's leading EV charging services company,” said Akshit Bansal, co-founder and CEO of Statiq.

The company is also planning to close an INR 50 crore ($6.7 million) debt round next week.

Forgot your username or password?