Kazam, an Indian e-mobility startup, has secured $8 million in a Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also saw participation from Avaana Capital, Alteria Capital, and other notable investors. This follows a previous $11.4 million raised from Avaana Capital Advisors and others.
The fresh funds will be used to bolster Kazam’s technology and product teams, enhance platform offerings, and expand market presence. Co-founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform that builds smart and affordable EV charging networks. The platform aims to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations.
Based in Bengaluru, Kazam’s software supports a diverse range of vehicles, including two-wheelers, commercial electric vehicles (CEV), three-wheelers, and city buses. The company claims to serve more than 25,000 charging points. Recently, Kazam launched LEV-DC, a fast charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes.
Kazam secures major investment boost
Kazam has partnered with BigBasket, Zypp, Mahindra Logistics, and other third-party logistics providers, facilitating 1 million transactions and integrating over 25,500 EV charging devices in the last year. The company’s reach also extends to major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.
Akshay Shekhar, Kazam’s co-founder and CEO, said, “We are thrilled to have the support of Vertex Ventures SEA & India and our other esteemed investors as we continue our mission to democratise and digitise EV infrastructure. We have grown 10x in our monthly transactions and EV kilometres fueled over the last 12 months. This investment will help accelerate our growth, drive further innovation, and maintain our leadership position in the e-mobility sector.”
Nikhil Marwaha, Senior Executive Director of Vertex Ventures Southeast Asia and India, commented, “Kazam’s full-stack platform offers best-in-class solutions for OEMs, fleet operators, and asset owners to effectively manage their EV charging infrastructure needs.
With EV adoption in India expected to rise significantly, Kazam’s ‘charging in a box’ solution is critical for creating a reliable EV charging network. The Kazam team is extremely customer-oriented, which is evident in all our interactions with their customers.”
Swapna Gupta, Partner at Avaana Capital, added, “Kazam, with its focus on easing EV adoption, has successfully built one of the largest global charging platforms for electric mobility in a very short period. Addressing range anxiety, Kazam has created a reliable energy management platform for OEMs, CPOs, Utilities, Fleet Operators, and Online Commerce, offering charging at their fingertips.”
Kazam currently powers over 15 million EV kilometres per month, with 10% of its contributions coming from international clients across the Global South.
The company has also recently partnered with Google Maps to enhance EV charging infrastructure across India by integrating navigation features for EV charge points and providing detailed information about charger types, making EV charging even more accessible and convenient for users.
- Entrackr.”E-mobility startup Kazam raises $8 Mn led by Vertex Ventures”.
- TechCrunch.”India’s Kazam powers up to roll out EV charging in Southeast Asia”.
- BWDisrupt.”Emobility Startup Kazam Bags $8 Mn In Series A3 Round Led By Vertex Ventures SEA & India”.