Kazam, an innovative e-mobility startup based in Bengaluru, has successfully raised $8 million in its Series A3 funding round. The investment was led by Vertex Ventures Southeast Asia and India, with additional contributions from Avaana Capital, Alteria Capital, and other investors. This latest round of funding will enable Kazam to expand its technology and product teams while enhancing its market presence and offerings.
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is dedicated to addressing key challenges in the electric vehicle (EV) sector, particularly range anxiety—the concern that an EV may not have enough battery charge to complete a journey. The company’s solutions encompass both software and hardware designed to support charge point operators, fleet operators, and electricity grids. Kazam’s technology is compatible with a range of vehicles, including two-wheelers and city buses.
“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,” said Akshay Shekhar, Co-founder & CEO of Kazam.
In the past year, Kazam has significantly expanded its operations, integrating over 25,500 EV charging devices and partnering with notable entities such as online grocery delivery platform Bigbasket and electric bike rental service Zypp. The company has also collaborated with Google Maps to integrate EV charge point navigation features into the app, providing detailed information about charger types.
Swapna Gupta, Partner at Avaana Capital, commented, “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.”
With this new funding, Kazam aims to further enhance its offerings and solidify its position as a leader in the e-mobility sector, continuing to drive innovation and growth in the electric vehicle space.