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

EntrackrEntrackr · 5m 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.

Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B

EntrackrEntrackr · 9m ago
Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B
Medial

Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B Electric mobility startup Kazam is raising Rs 51 crore (around $6 million) in its Series B round, led by Vertex Ventures, with participation from Avaana Capital and Chakra Growth Capital. The board at Kazam has passed a special resolution to issue 36,410 Series B compulsory convertible preference shares at an issue price of $165.06 each to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. IFC VVSEA Co-Invest LP and Vertex Ventures SEA Fund, representing Vertex Ventures, will jointly invest $4.9 million, while Avaana Capital and Chakra Growth Capital will contribute $1.01 million and $0.9 million, respectively. According to Entrackr’s estimates, the company will be valued at around $51 million post-allotment. Kazam plans to deploy the funds towards business growth, expansion initiatives, and general corporate purposes. After this funding round, Vertex Ventures and IFC VVSEA Co-Invest together will hold a 22.89% stake, while Avaana Capital and Chakra Growth Capital will own 17.02% and 1.51% stakes, respectively. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform that develops smart and affordable charging networks. Its technology supports a wide variety of vehicles, including two-wheelers, commercial electric vehicles (CEVs), three-wheelers, and city buses. It claims to power over 25,000 charging points. The Bengaluru-based firm works with the likes of BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette. The company is yet to file its annual results for FY25. According to the startup data intelligence platform TheKredible, its revenue from operations surged 3.3X to Rs 12.19 crore during the fiscal year ended in March 2024 while its losses stood at Rs 10.2 crore in the same fiscal year.

Exclusive: Exponent Energy raising $20 Mn in an extended Series B

EntrackrEntrackr · 12d ago
Exclusive: Exponent Energy raising $20 Mn in an extended Series B
Medial

Exclusive: Exponent Energy raising $20 Mn in an extended Series B Exponent Energy is set to raise Rs 182 crore ($20 million) in an extended Series B round co-led by 360 One and TDK Ventures. The round will also see participation from existing investors, including YourNest, Advantedge Technology, Eight Roads Ventures, and Lightspeed India, among others. This will be the first major funding for the company in over two years since it last raised $26.4 million in Series B round in December 2023. The board at Exponent Energy has passed a resolution to approve the issue of 85,135 Series B2 CCPS across two separate filings at an issue price of Rs 21,430 to raise the above-mentioned amount, according to its filing with the Registrar of Companies (RoC). 360 One will lead the round with an investment of Rs 45 crore, followed by TDK Ventures and YourNest Venture Capital, contributing Rs 44.50 crore and Rs 37.82 crore, respectively. Other participants include Advantedge Technology (Rs 19 crore), Eight Roads Ventures (Rs 15.58 crore), 3One4 Capital (Rs 8.9 crore), and Lightspeed India (Rs 6.67 crore), along with contributions from Rohati Private Strategies, Indigo Circle Advisors, and Vivek Kamlesh Doulatani. Exponent Energy has also approved an increase in its ESOP pool by 11,550 options worth around Rs 24.75 crore, taking the total to 62,570 options, along with a 4,000 SAR pool. The combined ESOP and SAR pool is valued at Rs 142.6 crore. Led by Arun Vinayak and Sanjay Byalal, Exponent Energy builds rapid-charging solutions for EVs, enabling full charging in 15 minutes. It partners with OEMs to integrate its e-pack and develops a network of e-pumps to support efficient charging for logistics operators. Prior to this round, Exponent Energy has raised over $44 million to date including its $13 million round raised in August 2022. The Eight Roads Ventures-backed company’s revenue surged over 80% to Rs 30.2 crore in the fiscal year ended March 2025 from Rs 16.4 crore in FY24. During the same period, it narrowed its losses by 66% to Rs 65 crore from Rs 192 crore in FY24. Exponent Energy competes with other battery solution providers in the EV ecosystem such as Lohum, which is in talks to raise a Rs 1,000 crore pre-IPO round, and Battery Smart, which recently kicked off its pre-Series C round with Rs 66 crore in funding. Other players in the space include Nexus Battery, Chargeup, and Statiq among others.

Exclusive: Deeptech IoT startup Datoms to raise Rs 25 Cr in Series A

EntrackrEntrackr · 1m ago
Exclusive: Deeptech IoT startup Datoms to raise Rs 25 Cr in Series A
Medial

Snippets Exclusive: Deeptech IoT startup Datoms to raise Rs 25 Cr in Series A Datoms is raising $2.77 million (approximately Rs 25 crore) in a Series A funding round led by BIG Global Investments JSC, with participation from existing investors YourNest Innovative Products VC Fund and IvyCap Ventures. Datoms has passed a special resolution to issue 58,349 Series A compulsorily convertible preference shares (CCPS) and two equity shares at an issue price of Rs 4,274 per share, aggregating to a total fundraise of Rs 25 crore, according to regulatory filings accessed from the Registrar of Companies (RoC). BIG Global Investments JSC will lead the round with an investment of Rs 15 crore, followed by YourNest Innovative Products VC Fund with Rs 6 crore and IvyCap Ventures with Rs 4 crore, taking the total round size to Rs 25 crore. As per Entrackr’s estimates, the company will be valued at around Rs 110 crore ($12.18 million) on a post-money basis. The fresh capital will be used to support growth and expansion, meet operational requirements, and fund general corporate purposes. Previously, the startup had raised $1.2 million led by Yournest VC in October 2023. Co-founded by Amiya Samantaray, Nataraj Sahoo, Amrit Biswal, and Asish Sahoo, Datoms is a Bhubaneswar-based deeptech startup building a connected operations cloud that unifies people, processes, and machines on a single platform. Its industrial IoT solutions help sectors such as construction, warehousing, agriculture, mining, and ports improve efficiency, automate workflows, and optimise asset management. Following the Series A round, BIG Global Investments JSC will hold a 12.00% stake in Datoms, while YourNest Innovative Products VC Fund and IvyCap Ventures will hold 14.74% and 3.20% stakes, respectively. For the fiscal year ended March 2025 (FY25), Datoms reported operating revenue of Rs 5.57 crore, up from Rs 3.09 crore in FY24. The company’s losses widened to Rs 5.82 crore in FY25 from Rs 4.38 crore in the previous fiscal year.

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