e-mobility enterprise software platform Kazam raises $3.6M in funding

Date: 03 May 2023

Kazam, a device agnostic electric mobility software platform for Charge Point Operators, Fleet Operators and Electricity Grids, has raised $3.6 million in a round led by Avaana Climate Fund. The company has been building their flagship EV fuelling platform and now aims to build a one-stop e-mobility software platform – digitizing the entire value chain from managing energy from grid to fuelling an EV to managing a fleet.

Founded by (ex-PepsiCo), Akshay  Shekhar, CEO and Vaibhav Tyagi, CTO, the company’s business has grown to managing 150,000 kWh of electricity per month with 10% of contribution by international clients in USA, Europe and Asia-Pacific. The funding round was led by climate-tech focused VC Avaana Capital. Other investors include Third Derivative and existing investors Inflection Point Ventures and We Founder Circle.

Kazam’s software to manage fuelling for EVs are used by a range of vehicles including 2W, CEV 3W, city buses for local transport and more. With more than 7000 charging points under management, Kazam’s immediate plan is to integrate 60,000 charging and swapping stations with its operating system in the next 14-15 months. It also plans to expand further in the international markets like the USA where it currently has partnerships with two Charge Point Operators managing 3,000 vehicles. In India Kazam enables 60+ Charge Point Operators inclusive of large e-commerce companies, 2W OEMs and Third-party Logistics companies.

The global EV charging infrastructure market is only expected to grow exponentially from $7.7 billion in 2020 to $27.7 billion by 2025, at a CAGR of 29.4%. Kazam's innovative technology and strong partnerships with government and private stations put it in an advantageous position to capitalize on the growing demand for EVs in India and beyond.

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