Statiq Secures $18 Million to Supercharge India & UAE EV Charging Network (February 2026)

Breaking: Statiq Secures $18 Million to Supercharge India & UAE EV Charging Network (February 2026)

Indian EV charging network provider, Statiq, has successfully secured approximately $18 million (₹163.2 crore) in a crucial equity and debt funding round, announced on February 19, 2026, in New Delhi. This significant capital infusion, led by Tenacity Ventures with participation from Y Combinator, Shell Ventures, and RCD Holdings, is poised to dramatically accelerate Statiq's mission to scale its charging infrastructure across India and strategically enter the burgeoning electric vehicle (EV) market in the United Arab Emirates (UAE). This investment arrives at a critical juncture for India's EV ecosystem, signalling renewed investor confidence in the green mobility sector after a challenging "capital winter" for infrastructure startups.

The Catalyst

The drive for sustainable transportation in both India and the UAE is creating immense opportunities for EV charging infrastructure. Statiq's latest funding round directly addresses the pressing need for robust and widespread charging solutions as EV adoption accelerates. The company aims to leverage this capital to fortify its existing network, which currently spans over 10,000 AC and DC chargers across more than 100 cities in India, and to expand its reach. Co-founders Akshit Bansal (CEO) and Raghav Arora (CTO) emphasized that this funding validates Statiq's long-term vision and its resilient execution on unit economics during market fluctuations. The company, founded in 2020, focuses on a full-stack EV charging solution that integrates proprietary hardware with advanced software and telematics.

Financial Forensics

The $18 million investment comprises a blend of equity and debt, reflecting a diversified funding approach. Tenacity Ventures led the round, with prominent global investors like Y Combinator and Shell Ventures reinforcing their commitment, alongside RCD Holdings. This infusion follows Statiq's previous $25.7 million Series A round led by Shell Ventures in mid-2022. The funds are primarily earmarked for scaling charging infrastructure, particularly deploying more DC fast chargers along key highways, upgrading existing networks to achieve 99.9% uptime, and enhancing hardware lifecycle management and telematics. Importantly, a portion of the capital is dedicated to supporting international expansion, building on successful pilot deployments of its "Made in India" hardware in the UAE.

Comparative Funding Landscape (Selected EV Charging Players)

Company (Focus)	Funding Round (Year)	Amount (Approx.)	Lead Investor(s)	Key Use of Funds (Primary Focus)
Statiq (India/UAE)	Latest (Feb 2026)	$18 Million	Tenacity Ventures	India expansion, UAE market entry, DC fast chargers
Tata Power EV (India)	Various (Ongoing)	~	Tata Group	Broad network expansion, public-private partnerships
ChargeZone (India)	Series A (Recent)	~$50-60 Million*	BlueOrchard Finance & others*	Network growth, technology upgrades, international pilots*
ElectricPe (India)	Seed/Pre-Series A (Recent)	~$5 Million*	Micelio Fund & others*	App-based charging, last-mile connectivity

*Note: Figures for competitors are illustrative and based on public reports from recent years, actual Feb 2026 data may vary.

Market Impact

This funding is a strong positive signal for India's rapidly growing EV ecosystem. The Indian EV charging station market is projected to reach USD 0.7-0.8 billion in 2026, growing at a CAGR of 27-31% through 2030. With over 27,000 public EV charging stations as of early 2026, and a target of 72,000 public chargers by March 2026 under schemes like PM E-DRIVE, Statiq's expansion contributes significantly to alleviating "range anxiety" and accelerating EV adoption.

The strategic entry into the UAE is also highly impactful. The UAE electric vehicle market is valued at USD 3.84 billion in 2026 and is forecast to reach USD 10.21 billion by 2031, expanding at a robust 21.49% CAGR. Government initiatives, a growing charging infrastructure in cities like Dubai and Abu Dhabi, and increasing environmental consciousness are driving this growth. Statiq's move aligns with the UAE's goal of having 25% of all cars on the road be electric or hybrid by 2030.

Key Takeaways

• Significant Capital Infusion: Statiq's $18 million round signals strong investor confidence in the EV charging sector.
• Dual Market Strategy: The funding underpins aggressive expansion in India and a strategic foray into the high-growth UAE market.
• Infrastructure Focus: Funds will enhance DC fast charging, network reliability (targeting 99.9% uptime), and technological upgrades.
• 'Made in India' Global Push: Statiq is set to export its indigenously developed charging hardware, commencing with UAE pilots.
• FOCO Model Expansion: The company is also scaling its Franchise-Owned, Company-Operated (FOCO) model to accelerate asset-light growth.

FinScann Verdict

Statiq's $18 million funding round is a strong testament to the long-term growth potential in the EV charging infrastructure domain, both domestically and internationally. This capital empowers Statiq to capitalize on India's burgeoning EV market and strategically position itself in the high-potential UAE region, transforming from a national leader to a global contender. Investors are clearly backing companies with proven execution and a clear path to scale, making Statiq a key player to watch in the evolving green mobility landscape.

Q: What is Statiq's primary focus with this new funding? A: Statiq's primary focus is to significantly scale its EV charging infrastructure across India, particularly by deploying more DC fast chargers on highways and in Tier-1 and Tier-2 cities. Additionally, a key objective is to facilitate its strategic entry and expansion into the UAE market by exporting its "Made in India" hardware.

Q: Who are the main investors in this $18 million funding round? A: The $18 million funding round was led by Tenacity Ventures, with significant participation from existing investors like Y Combinator and Shell Ventures, and new investor RCD Holdings.

Q: How many charging points does Statiq currently operate in India, and what are its future targets? A: Statiq currently operates over 10,000 AC and DC chargers across more than 100 cities in India. The company aims to double its installed chargers to 20,000 charging points nationwide by the end of 2026.

Q: Why is Statiq expanding into the UAE market? A: Statiq is expanding into the UAE market due to its rapid growth in EV adoption, supported by government incentives and a push for sustainable transport. The UAE EV market is projected to grow significantly, offering a lucrative opportunity for Statiq to leverage its technology and expand its global footprint with its "Made in India" hardware.

Q: What is Statiq's FOCO model? A: Statiq is expanding its FOCO (Franchise-Owned, Company-Operated) model. Under this program, partners own the charging hardware, while Statiq manages the day-to-day operations, allowing for asset-light expansion while maintaining operational control and service quality.

Disclaimer: For information only; not investment advice. Stock market investments carry risks. Please consult a SEBI-registered advisor before investing. FinScann assumes no liability for decisions made based on this report.