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Mumbai-based e-Mobility startup, Kazam has raised a funding of $8 million in a series A3 round funding led by Vertex Ventures Southeast Asia and India with participation from Avaana Capital, Alteria Capital, and several other notable investors.
As a part of the funding, the startup plans to bolster its technology and product teams, enhance its platform offerings, and expand its market presence.
Speaking about the funding, Akshay Shekhar, Co-Founder & CEO of Kazam said, “We are thrilled to have the support of Vertex Ventures SEA & India and our other esteemed investors as we continue our mission to democratize and digitize EV infrastructure.”
“We have grown 10x on 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,” Shekhar added.
Commenting on the investment in Kazam, 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 owneto manage their EV charging infrastructure needs effectively. 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 visible through all our interactions with their customers.”
Adding to this statement, 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.”
“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 fuel their expansion further,” Gupta further said.