Kazam EV Tech Raises $8 Million for Technology and Product Enhancement
Kazam, an EV charging platform, has successfully secured USD 8 million in funding to expand its technology, product offerings, and market presence. The funding round was led by Vertex Ventures Southeast Asia and India, with participation from Avaana Capital, Alteria Capital, and other investors. With this capital injection, Kazam aims to accelerate its growth and maintain its leadership position in the e-mobility sector.
The company plans to strengthen its technology and product teams, enhance its platform offerings, and increase its market presence in response to the growing electric vehicle market in India. Kazam's goal is to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations. With less than 5% penetration in the Indian electric market, the company believes that a scalable EV infrastructure is essential to support the rapid expansion and address range anxiety.
Kazam EV Tech, founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, offers a variety of EV charging products and services, including charging stations for different vehicle types, software solutions for charging and fleet management, and EV mobile apps. The company collaborates with major players in the industry such as BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette to provide reliable EV charging solutions.
As EV adoption continues to rise in India, Kazam's innovative solutions like the 'charging in a box' become increasingly crucial for creating a robust and efficient EV charging network. The funding received from Vertex Ventures and other investors will enable Kazam to further develop its technology, expand its product offerings, and solidify its market presence in the evolving e-mobility landscape.
