Kazam secures $8 Million in Series A3 funding led by Vertex Ventures SEA & India

With the fresh influx of capital, Kazam plans to bolster its technology and product teams, enhance its platform offerings, and expand its market presence.  “We are thrilled to have the support of Vertex Ventures SEA & India and our other esteemed investors as we continue our mission to democratise and digitise EV infrastructure,” said Akshay Shekhar, Co-Founder & CEO of Kazam, adding that, “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.”

She further added, “It has been gratifying to witness their accelerated growth from close quarters, and we are delighted to have Vertex Ventures SEA & India join us to further fuel their expansion.”

Kazam’s software enables a diverse range of vehicles, including two-wheelers, commercial electric vehicles (CEV) three-wheelers, and city buses, serving more than 25,000 charging points. They recently launched the first-of-its-kind LEV-DC, a fast charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes. This is in addition to their existing 3.3 KW LEV-AC charging solution.

The company currently fuels over 15 million EV kilometres per month, with 10% of its contributions coming from international clients across the Global South. Kazam's impact in the EV charging landscape is evident through partnerships with industry giants like BigBasket, Zypp, Mahindra Logistics and many other third-party logistics facilitating 1 million transactions and integrating over 25,500 EV charging devices in the last 12 months. Notably, Kazam's reach extends to major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.

In addition, Kazam has recently partnered with Google Maps to enhance EV charging infrastructure across India by integrating navigation features for EV charge points and providing detailed information about charger types, making EV charging even more accessible and convenient for users.