EV charging infrastructure startup Statiq raised $25.7 million in Series A led by Shell Ventures. The startup now intends to close a debt round of INR 50 crore next week.
Statiq is building an EV charging station network in major cities across the country. The company has agreements with owners of public spaces such as hotels, restaurants, malls, and dhabas to install charging stations and solve the chicken and egg problem that has plagued the EV ecosystem. The funds will be used for product development, network expansion, and the design of hardware and software to build a large charging network. The funds will be spent over a two-year period.