Kazam raises USD 8M in Series A3 funding | Launches LEV-DC fast charging solution

Bengaluru-based e-mobility technology startup, Kazam, has secured USD 8 million in its Series A3 funding round. The round was led by Vertex Ventures Southeast Asia and India, with participation from Avaana Capital, Alteria Capital, and other investors. The newly raised capital will be used by Kazam to strengthen its technology and product teams, improve its platform offerings, and expand its market presence.

Kazam’s software supports various vehicles, including two-wheelers, commercial electric vehicles (CEV) three-wheelers, and city buses, and manages more than 25,000 charging points. The company recently introduced the LEV-DC, a fast-charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes, in addition to their existing 3.3 KW LEV-AC charging solution.

The Indian Electric Vehicle (EV) market, currently at less than 5% penetration, is expected to grow significantly in the coming years. To support this growth and address range anxiety, scalable EV infrastructure is necessary. Kazam focuses on providing software and hardware solutions for Charge Point Operators, Fleet Operators, and Electricity Grids, aiming to digitize the e-mobility value chain, including managing grid energy, fueling EVs, and overseeing fleet operations.

“We are thrilled to have the support of Vertex Ventures SEA & India and our other esteemed investors as we continue our mission to democratise and digitise EV infrastructure,” said Akshay Shekhar, Co-Founder & CEO of Kazam. “We have grown 10x on our 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.”

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 owners to effectively manage their EV charging infrastructure needs. 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 clearly visible through all our interactions with their customers.”

Adding to this, 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 further fuel their expansion.”

As per the company statement, currently, Kazam fuels over 15 million EV kilometers per month, with 10% of its contributions coming from international clients across the Global South. The company has partnered with organizations like BigBasket, Zypp, and Mahindra Logistics, facilitating 1 million transactions and integrating over 25,500 EV charging devices in the past year. Kazam also collaborates with major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.

Additionally, Kazam has partnered with Google Maps to integrate EV charging infrastructure across India, providing navigation features for EV charge points and detailed information about charger types to improve accessibility and convenience.

Also read: EV charging software provider Kazam raises $3.6M