Statiq raises Rs.200cr in Shell Ventures-led round for EV charging stations
Statiq has secured Rs. 200 crore in a round headed by Shell Ventures. The electric charging infrastructure startup will use the money to develops its products, expand its network, and build the core team. Statiq has received $25.7 million (Rs. 200 crores) in a Series A investment headed by Shell Ventures. The EV charging infrastructure business now intends to raise a financing round of INR 50 Cr next week. Statiq intends to utilize the cash for product development, network growth, and the development of hardware and software for a massive charging network. The monies will be used over a two-year period, according to the creators. This is the largest Series A round ever made in the EV infrastructure industry. It will help Statiq accelerate its efforts to grow and maximize the value of its contract portfolio. The Y Combinator-backed firm, which previously received $200K in its seed round in 2020, plans to invest the $25 million on product engineering and strengthen the cor...