Kazam, a tech firm specializing in e-Mobility solutions, has raised $8 million in a Series A3 funding round. The round was spearheaded by Vertex Ventures Southeast Asia and India, with contributions from Avaana Capital, Alteria Capital, and other investors.
As the Indian Electric Vehicle (EV) market, currently with less than 5% penetration, is projected to grow significantly, the need for scalable EV infrastructure becomes crucial. Kazam offers software and hardware solutions aimed at supporting Charge Point Operators, Fleet Operators, and Electricity Grids, with a focus on digitizing the e-mobility value chain.
The new funds will be used by Kazam to expand its technology and product teams, enhance its platform capabilities, and strengthen its market presence.
Akshay Shekhar, Co-Founder & CEO of Kazam, shared that the company has experienced substantial growth in monthly transactions and EV kilometers powered over the past year. He believes this investment will further boost the company’s growth and innovation.
Nikhil Marwaha of Vertex Ventures Southeast Asia & India praised Kazam’s comprehensive platform, emphasizing its potential role in establishing a reliable EV charging network as EV adoption rises in India.
Swapna Gupta from Avaana Capital highlighted Kazam’s commitment to facilitating EV adoption and its success in building a significant global charging platform for electric mobility.
