E-mobility startup Kazam raised $8 M Series A3 funding from Vertex Ventures
Eight million dollars were raised in a Series A3 funding round headed by Vertex Ventures Southeast Asia and India for the e-mobility startup Kazam. Notable investors Avaana Capital, Alteria Capital, and others participated in the round as well.
Avaana Capital Advisors and others had previously contributed $11.4 million to the company’s funding.
According to a press release from Kazam, the additional funding will be utilized to strengthen its platform offerings, grow its market presence, and support its technology and product teams.
Kazam, an EV charging software platform, was co-founded in 2020 by Vaibhav Tyagi and Akshay Shekhar. It creates intelligent and reasonably priced EV charging networks. With its software and hardware solutions, the platform eliminates the headaches associated with EV infrastructure and is intended for use by fleet operators, charge point operators, and electricity grids. The startup’s goal is to digitize every step of the e-mobility value chain, including fleet operations, EV fueling, and grid energy management.
The Bengaluru-based company states that its software supports over 25,000 charging stations and allows a wide variety of vehicles, such as city buses, two-wheelers, and three-wheelers powered by commercial electric vehicles (CEVs).
It just introduced LEV-DC, a quick charge option that can reach 80% of an electric scooter’s battery life in 20 minutes for electric two- and three-wheelers.
In the past 12 months, Kazam has collaborated with BigBasket, Zypp, Mahindra Logistics, and other third-party logistics to integrate over 25,500 EV charging devices and facilitate one million transactions. The company further stated that TVS, Hero MotoCorp, Bajaj, Ather, Mahindra, and Ultraviolette are just a few of the well-known OEMs it works with.
