E-mobility startup Kazam has successfully raised $8 million in its Series A3 funding round, led by Vertex Ventures Southeast Asia and India. The round also saw contributions from Avaana Capital, Alteria Capital, and other prominent investors. This new funding adds to the $11.4 million previously secured from Avaana Capital Advisors and others.
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam specializes in EV charging solutions, offering both software and hardware to build efficient and affordable charging networks. The company aims to streamline the EV infrastructure with solutions designed for charge point operators, fleet managers, and electricity grids.
The newly acquired funds will be allocated to enhance Kazam’s technology and product development, expand its market presence, and improve its platform offerings. This includes the recent introduction of LEV-DC, a fast-charging solution that can charge electric scooters up to 80% in just 20 minutes.
Kazam’s software supports a wide range of electric vehicles, including two-wheelers, commercial electric vehicles (CEVs), three-wheelers, and city buses. The platform currently serves over 25,000 charging points and has integrated more than 25,500 EV charging devices in the past year.
The startup has established partnerships with major players such as BigBasket, Zypp, and Mahindra Logistics, facilitating one million transactions in the last 12 months. Kazam also collaborates with leading vehicle OEMs like Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette, further extending its reach in the e-mobility sector.
With the new investment, Kazam is well-positioned to further its mission of digitizing the e-mobility value chain, enhancing the efficiency of energy management, and supporting the growth of electric vehicle infrastructure.
