Kazam Raises $3.6 Million in Funding

by Kay Aloha Villamor in May 3rd, 2023

Kazam, a Bengaluru, India-based electric mobility software platform for charge-point operators and electricity grid management platform, raised about $3.6 million in fresh funding.

The round was led by Avaana Capital Fund, with participation from Third Derivative and existing investors Inflection Point Ventures and We Founder Circle also participated in the round.

The platform said in a statement that it has over 7,000 charging points under management, and furthermore, it plans to integrate 60,000 charging and swapping stations with its operating system in the next 14–15 months.

Kazam also plans to expand in international markets such as the United States. The startup currently has partnerships with two charge-point operators managing about 3,000 vehicles in the US.

It enables over 60 charge-point operators across the country, including large ecommerce companies, 2-wheeler original equipment manufacturers, and third-party logistics companies. 

Company: Kazam EV Tech. Pvt. Ltd. 

Raised: $3.6M

Round: Unknown 

Funding Month: May 2023

Lead Investors: Avaana Capital Fund

Additional Investors: Third Derivative, Inflection Point Ventures, and We Founder Circle

Company Website: https://kazam.in/

Software Category: EV Charging Software Platform

About the Company: Founded in 2021 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV SaaS Startup that provides an agnostic EV charging software platform building India's largest EV charging station network. Through its partnerships with fleets, CPOs, RWAs, and OEMs they have been able to create a robust charging network with over 7000 devices on its platform. The company's vision is to be the leader in EV charging in India and beyond, leveraging its capabilities in software and hardware. The company currently manages 150,000 kilowatt-hours (kWh) of electricity per month. Its solutions are used by individuals who own EVs, Charge point operators, Electric vehicle OEMs, RWAs, Energy distribution companies, and many MSMEs.

Source: https://bwdisrupt.businessworld.in/article/EV-SaaS-Startup-Raises-3-6-M-From-Avaana-Capital-Others/03-05-2023-475162/


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