EV charging platform Kazam raises $8 million capital in funding round

Mumbai: EV charging platform Kazam on Monday said it has raised $8 million capital in a funding round led by Vertex Ventures Southeast Asia and India.

The Series A3 funding round which was led by Vertex Ventures Southeast Asia and India also saw participation from Avaana Capital, Alteria Capital, and several other investors, Kazam said in a statement.

"This investment will enable us to accelerate our growth, innovate further, and maintain our leadership position in the e-mobility sector," said Akshay Shekhar, Co-founder and CEO of Kazam.

With the fresh influx of capital, Kazam plans to bolster its technology and product teams, enhance its platform offerings, and expand its market presence, the company said.

According to the company, with less than 5 per cent penetration, the Indian electric market is poised for disruptive growth in the next few years and to support this rapid expansion and address range anxiety, a scalable EV infrastructure is essential.

The platform, which offers charging products and services for EVs, said it aims to digitise the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations.

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.

The platform 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.