Total amount raised
$28.2 Millions
Latest funding date
6/1/2022
Location
Statiq has successfully raised funding through multiple rounds, with its most recent being a Series A round on June 23, 2022. The company is backed by notable investors including Shell Ventures and Mission Gate.
Keep reading to explore the intricacies of Statiq's fundraising journey and the investors backing this innovative platform.
What Is Statiq?
Statiq, founded in 2020 by Akshit Bansal and Raghav Arora, is headquartered in Gurgaon, Haryana, India. The company specializes in providing a comprehensive network of electric vehicle (EV) charging stations across the country.
Statiq's services include a mobile app that allows users to locate, book, and pay for charging slots. They also offer various products such as the Statiq Mobile App, Statiq DC CCS Charger, Statiq AdWall, and Charging Station Management System (CSMS).
With a team of 101-250 employees, Statiq is dedicated to enhancing the EV charging ecosystem in India, aiming to drive the transition to a cleaner, more sustainable future.
How Much Funding Has Statiq Raised?
- Seed Round
- Amount Raised: $150K
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial EV charging infrastructure.
- Seed Round
- Amount Raised: $2.3M
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the EV charging network and enhance product offerings.
- Series A
- Amount Raised: $25.7M
- Date: June 2022
- Lead Investors: Shell Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in product engineering, network infrastructure, and reinforce the core team.
Total Amount Raised: $28.15M. Current Valuation: Not publicly disclosed.
Key Investors
- Shell Ventures
- Details: Shell Ventures is the corporate venture capital arm of Royal Dutch Shell. It invests in companies developing technologies and business models that can accelerate the energy transition.
- Investment Focus Areas: Renewable energy, new fuels for transport, connected mobility, digital technologies.
- Notable Investments: Not publicly disclosed.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups since 2005. It provides seed funding, advice, and connections to help startups grow.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Dropbox, Stripe.
What's Next for Statiq?
Statiq stands at the cusp of a significant opportunity, driven by the burgeoning demand for electric vehicle (EV) infrastructure in India. With a recent $25.7 million Series A funding round led by Shell Ventures, the company is poised to invest heavily in product engineering, network infrastructure, and team expansion. Collaborations with major EV manufacturers like Hero Electric and Ather further bolster their growth prospects, positioning Statiq to rapidly scale its operations and enhance its technological offerings.
Future fundraising appears promising, given the successful Series A round and the company's ambitious expansion plans. As the EV market in India is projected to reach $206 billion by 2030, Statiq may seek additional funding rounds to support its scaling efforts and technological advancements. However, the path ahead is not without challenges. The company must navigate intense competition, manage rapid expansion, and ensure the reliability and efficiency of its charging infrastructure. Balancing these factors will be crucial as Statiq aims to lead the EV charging experience in India.
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