Kazam Secures USD 8 Mn in Series A3 Round Led by Vertex Ventures Southeast Asia and India for E-Mobility Expansion The Bengaluru-based startup aims to deploy the raised funds to bolster its technology and product teams, enhance its platform offerings, and expand its market presence.
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E-mobility startup Kazam has announced the raising of USD 8 million in a Series A3 round led by Vertex Ventures Southeast Asia and India. The round also saw participation from Avaana Capital, Alteria Capital, and several other notable investors.
Earlier, it raised USD 11.4 million from Avaana Capital Advisors and others.
With the fresh influx of capital, Kazam plans to bolster its technology and product teams, enhance its platform offerings, and expand its market presence.
Akshay Shekhar, Co-founder and CEO of Kazam, said, "We have grown 10x on our monthly transactions and EV km fuelled in the last 12 months. This investment will enable us to accelerate our growth, innovate further, and maintain our leadership position in the e-mobility sector."
Launched in 2020 by Akshay Shekhar and Vaibhav Tyagi, Bengaluru-based Kazam provides device-agnostic solutions for EV charging and battery swapping. Kazam's software supports a range of vehicles, from two-wheelers to city buses, managing over 25,000 charging points.
Nikhil Marwaha, Senior Executive Director, Vertex Ventures Southeast Asia and India, said, "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 manifold, Kazam's 'charging in a box' solution becomes extremely critical to debottlenecking the creation of a reliable EV charging network. The Kazam team is extremely customer-oriented, and this is clearly visible through all our interactions with their customers."
Kazam recently unveiled LEV-DC, a rapid charger that powers electric two-wheelers up to 80% in 20 minutes. The company claims to fuel 15 million EV kilometers monthly, with 10% coming from international clients.
Partnerships with BigBasket, Mahindra Logistics, and major OEMs like Bajaj, TVS, Hero MotoCorp, Mahindra, and Ather showcase its market impact.
It has recently partnered with Google Maps to enhance EV charging infrastructure across India.
Swapna Gupta, Partner, Avaana Capital, added, "Kazam, with its dogged 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."
