🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

EV charging startup Statiq raises $18 Mn led by Tenacity Ventures

EntrackrEntrackr · 2d ago
EV charging startup Statiq raises $18 Mn led by Tenacity Ventures
Medial

EV charging startup Statiq has secured $18 million (about Rs 163.2 crore) in a mix of equity and debt funding round led by Tenacity Ventures along with participation from Y Combinator, Shell Ventures, and RCD Holdings. Entrackr exclusively reported on this potential deal back in October last year. The company last raised $25.7 million in a Series A round led by Shell Ventures in mid-2022. The proceeds will be allocated towards scaling its charging infrastructure and expanding its presence across Tier I and II cities, powering hardware lifecycle improvements, and advanced telematics, Statiq said in a press release. Co-founded in 2020 by Akshit Bansal and Raghav Arora, Statiq builds and operates EV charging infrastructure and runs a consumer app for locating and booking charging points. The startup offers a mix of hardware and software-led services, with its hardware segment including chargers and related infrastructure contributing the majority of its revenue. It also runs a financing program for EV charging stations in partnership with the State Bank of India to accelerate infrastructure expansion. According to Statiq, users of its mobile app can avail charging services from its charging network along with other providers like E-Fill, Sunfuel, and GLIDA. It has also collaborated with government bodies, automakers, and hospitality companies to expand its charging network coverage to about 100 cities where it has installed over 10,000 chargers. In the EV charging infrastructure sector, Statiq faces competition from well-funded startups such as Charge Zone, ElectricPe, Bolt.Earth, and IPEC. It aims to double the number of installed chargers by the end of 2026.

Exclusive: EV charging startup Statiq in talks to raise $15-18 Mn

EntrackrEntrackr · 4m ago
Exclusive: EV charging startup Statiq in talks to raise $15-18 Mn
Medial

Founded in 2020 by Akshit Bansal and Raghav Arora, Statiq builds and operates EV charging infrastructure and runs a consumer app for locating and booking charging points. EV charging network startup Statiq is in advanced talks to raise around $15 to 18 million in a new funding round from new and exiting investors, according to two people familiar with the potential deal. “Statiq was earlier exploring a much larger round, but the company has now decided to settle for a smaller cheque in the range of $15–18 million,” said one of the people cited above, requesting anonymity. “A new institutional investor is likely to lead the round, with participation from other new and existing investors.” Statiq last raised $25.7 million in a Series A round led by Shell Ventures in mid 2022. The firm was later reported to be in talks for a $50 million Series B last year but the round did not materialize at that scale. The startup offers a mix of hardware and software led services, with its hardware segment including chargers and related infrastructure contributing the majority of its revenue. Statiq also runs a financing program for EV charging stations in partnership with State Bank of India to accelerate infrastructure expansion. As per sources, Statiq’s valuation will remain flat in the Series B round, at around $100 million post-money. The flat valuation isn’t surprising, as Statiq’s Indian entity (Sharify Services Pvt Ltd) saw its revenue from operations decline 40% year-on-year to Rs 40.9 crore in FY24 from Rs 67.53 crore in FY23. At the same time, the company’s losses ballooned 3.1X to Rs 44.52 crore in FY25. It’s yet to disclose FY25 numbers. “The company is likely to deploy the fresh capital toward network expansion and product development to strengthen its position in the EV charging space,” said the source quoted above. Terms of the deal may change. Entrackr reached out to Statiq’s founders and Shell Ventures for comment but did not receive a response until the time of publication. In the EV charging infrastructure sector, Statiq faces competition from well-funded startups such as Charge Zone, ElectricPe, Bolt.Earth, and IPEC.

GFC leads $3 Mn round in EV charging startup ElectricPe

EntrackrEntrackr · 1y ago
GFC leads $3 Mn round in EV charging startup ElectricPe
Medial

Electric vehicle super-app ElectricPe has raised $3 million in pre-Series A round led by Green Frontier Capital along with participation from its existing investors Blume Ventures, Micelio Fund, and NB Ventures. The Bengaluru-based company had previously raised $5 million in pre-Series A round from its existing investors. The fresh funds will be used for growth, innovation initiatives, and expansion to new geographic locations, ElectricPe said in a press release. Co- founded in May 2021 by Avinash Sharma and Raghav Rohila, ElectricPe is a full-stack super – app that allows users to identify, access and pay for EV charging points regardless of their charging type. The platform’s multi-brand stores present prospective buyers with a wide range of E-2 wheelers to choose from while also offering users EV financing, servicing and subscription plans. Recently, ElectricPe collaborated with Google which enables users across India to view the availability and status of charging points in real-time. ElectricPe says that it operates in more than 25,000 public chargers and claims to have captured over 15% of the market share of all personal EV 2-wheeler sales in Bengaluru within 8 months. ElectricPe may directly or indirectly compete with other startups in this space such as e-Amrit, Statiq, PlugShare and others. Green Frontier Capital is an early-stage VC fund and backed some of the prominent startups like Battery Smart, BluSmart Mobility, E-Motorad, Nutrifresh amongst others.

Download the medial app to read full posts, comements and news.