Kazam, an innovative e-mobility startup, has successfully raised $8 million in a Series A3 funding round.
This round was led by Vertex Ventures Southeast Asia and India, with notable participation from Avaana Capital, Alteria Capital, and other prominent investors.
This latest injection of funds will be pivotal in enhancing Kazam’s technology and product teams, expanding its platform offerings, and broadening its market presence.
The fresh capital aims to strengthen Kazam’s efforts in revolutionizing the EV charging landscape through its comprehensive software and hardware solutions.
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam has emerged as a significant player in the EV sector with its smart and affordable charging networks.
The startup’s platform addresses the complexities of EV infrastructure, providing robust support for charge point operators, fleet operators, and electricity grids.
Kazam’s mission is to digitize the entire e-mobility value chain, from grid energy management to EV charging and fleet oversight.
Kazam’s advanced software supports a wide array of vehicles, including two-wheelers, commercial electric vehicles (CEVs), three-wheelers, and city buses.
The company currently manages over 25,000 charging points and has recently introduced LEV-DC, a fast-charging solution for electric two-wheelers and three-wheelers.
This technology can charge an electric scooter up to 80% in just 20 minutes.
In the past year, Kazam has achieved significant milestones, including partnerships with BigBasket, Zypp, Mahindra Logistics, and other third-party logistics providers.
The company has facilitated 1 million transactions and integrated over 25,500 EV charging devices.
Kazam’s network extends to major vehicle OEMs such as Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.
With the new funding, Kazam is poised to accelerate its growth trajectory, enhance its technological capabilities, and expand its influence across the EV market.
