Statiq, a leading electric vehicle (EV) charging network, has announced that it has received USD25.7 million in a Series A funding led by Shell Ventures that will be used to invest in product engineering and network infrastructure as well as reinforcing the core team.
Over the last year, Statiq has launched numerous charging stations on busy routes with high footfalls and recently teamed up with Hero Electric and EV maker Ather, to enhance the combined EV charging network in the northern states of India
Commenting on the fund raise Co-Founder and CEO, Statiq, Akshit Bansal said that both Shell and Statiq share a vision of actively driving the transformation towards sustainable modes of transport and with the fund raise the company plans to rapidly scale the business while continuing to invest further in technology, innovation and product development..
Robert Linck Chief Investment Officer of Shell Ventures sharing his confidence on growing charging prowess Shell expressed that the "Statiq is on-track to lead the EV charging experience in India. Our investment in Statiq stands for our belief in their potential and our shared ambition to accelerate the electrification of mobility solutions.”
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