Kazam, an e-mobility company, has secured USD 8 million in its Series A3 funding round, with Vertex Ventures Southeast Asia and India leading the investment. Avaana Capital, Alteria Capital, and other prominent investors also participated. The new funding will enable Kazam to strengthen its technology and product teams, improve its platform services, and broaden its market reach.
“We are thrilled to have the support of Vertex Ventures SEA & India and our other esteemed investors as we continue our mission to democratize and digitise EV infrastructure”, said Akshay Shekhar, Co-Founder and CEO of Kazam. “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”.
Nikhil Marwaha, Senior Executive Director, Vertex Ventures Southeast Asia & 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 debottleneck 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”.
Adding to this, Swapna Gupta, Partner, Avaana Capital said, “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”.
The company currently supports over 15 million EV kilometers each month, with 10 percent of this coming from international clients in the Global South. Additionally, Kazam has recently teamed up with Google Maps to improve EV charging infrastructure in India. This partnership integrates navigation features for EV charging points and offers detailed information about different types of chargers, making the charging process more accessible and convenient for users.