India, Feb. 18 -- EV charging startup Statiq has raised $18 Mn (Rs.163.2 Cr) in a mix of equity and debt funding in a round led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures and RCD Holdings.

Statiq plans to utilise the funds toward scaling its charging infrastructure and expand presence across Tier I and II cities. The startup is planning to install DC fast chargers across key highways, upgrade its products to achieve "99.9% uptime" and begin exporting its hardware to global markets. The investment will also power hardware lifecycle improvements and advanced telematics for seamless scaling, it said.

"With this capital, we'll harden our stack for scale; hardware lifecycle management, software-strengthening, ...