Kazam, which is a battery charging services startup, has raised Rs 7 crore in a seed round led by early-stage venture capital fund Inflection Point Ventures (IPV). Kazam is a one-year-old startup that will use the funds for product development, scaling up operations, and ramping up sales and marketing. For IPV, this is the 19th deal so far this year.Its has invested Rs 207 crore across 77 companies since 2018.
Kazam is founded by Akshay Shekhar and Vaibhav Tyagi. It runs Internet of Things-enabled EV charging stations in Karnataka, Maharashtra, Delhi NCR, Telangana and Tamil Nadu. It is looking to expand from its current network of 30 charging stations. The charging stations will be enabled with IoT devices for connectivity, analytics, battery management services and ability to meter and bill users through an app.
The company has built the hardware and software technology for affordable and smart EV charging infrastructure. It has also built an open architecture to help other charging hardware manufacturers use their protocols and APIs. Its in-built charging stations and software can be installed and operated by a mobile application, without the need for any manpower. Also, the open software architecture allows businesses, EV manufacturers, fleet operators to get easy API integration for any kind of hardware along with a dashboard for monitoring utilisation, cost-saving and environmental impact.
Vinay Bansal, founder-CEO, Inflection Point Ventures said – “Electric mobility is picking up pace very quickly with a large population aspiring to shift to electric vehicles, and with this, the demand of its resources is also increasing. Kazam is catering to this need with its expertise in charging stations, helping the entire sector grow.”