Total amount raised
$28.2 Million
Latest funding date
6/1/2022
Location
Statiq has successfully raised funding over three rounds, with the latest being a Series A round. 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 electric vehicle charging network.
What Is Statiq?
Statiq, based in Gurgaon, Haryana, India, is a prominent player in the electric vehicle charging industry. The company operates a network that allows users to locate the nearest charging station, book a slot, and pay online. With a workforce of 101-250 employees, Statiq is dedicated to expanding the EV charging infrastructure across India.
Specializing in automotive, charging infrastructure, electric vehicles, and electrical distribution, Statiq aims to build the largest network of EV chargers in the country. The company offers a range of products, including AC and DC fast chargers, and provides a mobile app for seamless user experience.
How Much Funding Has Statiq Raised?
- Seed Round
- Amount Raised: USD 150,000
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Seed Round
- Amount Raised: USD 2,300,000
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand market reach.
- Series A Round
- Amount Raised: USD 25,700,000
- 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: USD 28,150,000. 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 innovative companies that are developing technologies and business models to accelerate the energy transition.
- Investment Focus Areas: Renewable energy, energy storage, electric mobility, digital solutions for energy efficiency.
- Notable Investments: Sonnen, Sense, Ample.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups, including well-known companies like Dropbox and Airbnb. It provides seed funding, advice, and connections to help startups grow.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Dropbox, Airbnb, Stripe.
What's Next for Statiq?
Statiq stands at the cusp of significant growth, driven by a $25.7 million Series A funding round. This capital injection will enable the company to invest in product engineering, expand its network infrastructure, and reinforce its core team. Collaborations with major EV manufacturers like Hero Electric and Ather further bolster its position in the rapidly growing EV market.
As the EV industry trends towards increased infrastructure investment and strategic partnerships, Statiq is well-positioned to scale its operations and enhance its technological capabilities. The company’s consumer-centric approach and robust growth plans suggest potential for future funding rounds, which could further accelerate its expansion and innovation efforts.
However, challenges such as maintaining quality and reliability while scaling, keeping up with technological advancements, and navigating a competitive landscape remain. Despite these hurdles, Statiq's strategic vision and strong investor backing provide a solid foundation for continued success in the evolving EV ecosystem.
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