This Startup is a One-Stop-Shop for All EV Charging Needs
Statiq is an ambitious tech-first start-up that is meeting the challenge of building one of the country’s largest public EV charging networks today. The company aims to provide an end-to-end value-based ecosystem combined with seamless service for every stakeholder in the ecosystem. Statiq’s primary goal has always been and will always be to provide an accessible, affordable and reliable charging network to all EV users. During an interaction with Nitisha; Akshit Bansal, Founder & CEO, Statiq elaborates Statiq’s unique features and his plan to accelerate the adoption of sustainable mobility across India by 2025.
Kindly elaborate Statiq and its special offerings. Also, highlight your journey and agenda to setup this company.
Statiq had gauged the need for a full-stack EV charging solutions provider before EV gained mass popularity. The co-founders understood that if driving EVs had to become a reality as eco-friendly vehicles for a greener future, charging them should not be a challenge. And with that, Akshit Bansal and Raghav Arora built a dream of their own—to be the pioneers to provide these solutions, in the most affordable manner possible. For EV owners, they provide In-house Charging Systems with optimum services, and In-house public Charging Stations Management Systems.
They wanted to present charging solutions as easy as getting on their Statiq app to Discover, Book, and Pay on the go. And that’s exactly what they have done, because their app has already become India’s most popular EV charging station app, with the largest charging network.
Statiq also provides services for both fast and slow charging units. With the slow charging products, namely Circle(3.3kW Smart Socket) and Pillar(7.7kW Type-2), they are both developed entirely in-house; and a fast charger Canvas(60 kW Single Gun CCS). Their services also extend from 2- and 3-wheelers to 4-wheelers, so that they become the one-stop-charging station for all EVs.
Over the last year, Statiq has launched numerous charging stations to reinforce their already considerable network. Hence, the company has already installed 600+ charging stations with some recent ones at Mangaluru in Karnataka, Himachal Pradesh, and Rajasthan. And by the end of the year, Statiq aims to have an approximately 10,000-strong charging network. Each location is handpicked for one singular reason, which is they are located on busy routes and have extremely extensive footfalls. Statiq also is looking forward to making many more such announcements.
According to a news portal, Statiq is planning to invest 40 Cr in EV Charging Infra in Residential Complexes. How are you planning to implement this agenda and also share the current status?
Statiq plans to invest Rs. 40 crore in building EV charging infrastructure across residential projects, wherein they will offer free hardware installation as also free vehicular charging for the first year to the complex residents. Our plans are initially going to focus on the Delhi-NCR region followed by other metro cities and then extend to all Indian urban regions. Our aim is to boost EV charging facilities across the nation at as many prime locations as possible to maximize our reach to EV users.
Each charging hub will be equipped with two 7.7-kW type-2 connectors for the new-age 4W passenger vehicles and two 3.3-kW smart sockets to be used by all EVs. With this ambitious plan, the company is closing in on its grand plans to add over 10,000 new EV chargers to its network before the end of this year, and help more EV users to #StayCharged and commute stress-free.
Kindly throw some light on your investors and what kinds of seed funding you are seeking for future growth?
Since our inception, the startup has been solidly funded by venture capital investors, having been a participant in the leading global start-up accelerator programme Y-Combinator. In June, 2022, Statiq raised USD 25.7 million in a Series A funding round led by Shell Ventures.
How do you define Statiq from other EV charging companies? Kindly elaborate.
We believe Statiq is a one-stop-shop for all EV charging needs. If you are looking for an Accessible, Affordable and Reliable Charging network for all EV users, you must come to us.
What kind of challenges EV industry is facing and how it can be resolved? Explain.
Back when the company started, chargers were not being manufactured locally, and mostly imported from China or Germany driving the costs high with no quality guarantee. Some other challenges included low EV volumes, broken electrical infrastructure, and zero clarity in government policies.
From then to now, we are already solving a big challenge of EV charging infrastructure in a country like India, so we are ones who look forward to challenges and overcoming them. The fact that our government is seriously considering our sector and its long-term implications, and is making the necessary strides by formalizing a safety norms mandate for EV battery manufacturers is something we heartily welcome.
We are glad that we at Statiq are playing a pivotal role in the adoption of electric mobility in India by being part of the solutions, not scared of the challenges.
Kindly talk about latest development of Statiq and also share your future marketing strategies.
Statiq has already carved a name for itself in the EV charging space, and has forged key partnerships with Indian EV giants like Hero Electric and Ather. Our aim is to accelerate the adoption of sustainable mobility across India by 2025 by developing an enhanced ecosystem with the foundations of cutting-edge technology, data driven management and easy accessibility, and every development that we make will be in this direction.
