Kazam, a tech company specializing in e-Mobility solutions, has successfully raised $8 million in a Series A3 funding round. This round was led by Vertex Ventures Southeast Asia and India, with additional investments from Avaana Capital, Alteria Capital, and others. The Indian Electric Vehicle (EV) market, which currently has a penetration of less than 5%, is poised for substantial growth in the coming years.
To support this expansion and mitigate range anxiety, there is a need for scalable EV infrastructure. Kazam’s software and hardware solutions are designed to assist Charge Point Operators, Fleet Operators, and Electricity Grids, with the goal of digitizing the e-mobility value chain.
With the newly acquired funding, the company plans to bolster its technology and product teams, enhance its platform capabilities, and strengthen its market presence. Akshay Shekhar, Co-Founder & CEO of Kazam, mentioned that the company has experienced a significant increase in monthly transactions and the number of EV kilometers powered over the past year. He emphasized that this investment will propel the company’s growth and innovation initiatives.
Nikhil Marwaha from Vertex Ventures Southeast Asia & India praised Kazam’s comprehensive platform and its potential role in establishing a reliable EV charging network as EV adoption in India accelerates. Swapna Gupta from Avaana Capital highlighted Kazam’s commitment to facilitating EV adoption and its success in creating a vast global charging platform for electric mobility. Kazam’s software is compatible with various types of electric vehicles and currently supports over 25,000 charging points.
Recently, the company introduced a fast-charging option for electric two-wheelers and three-wheelers. Kazam reports powering more than 15 million EV kilometers each month, with 10% of this activity driven by international clients. The company has established partnerships with firms like BigBasket, Zypp, and Mahindra Logistics, and its network extends to leading vehicle manufacturers including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette. The company has also collaborated with Google Maps to integrate navigation features for EV charging stations and provide detailed information about charger types across India.
A tech startup called Kazam specializes in e-Mobility solutions. It offers hardware and software to serve fleet operators, electricity grid operators, and charge point operators. Its platform alleviates range anxiety and supports EV infrastructure while contributing to the digitization of the e-mobility value chain. Kazam hopes to increase its market footprint, improve platform services, and advance its technology with the latest financing.
