Kazam EV Tech, a company specializing in charging products and services for electric vehicles has raised $8 million in a funding round led by Vertex Ventures.
The round also saw participation from existing investors, including Avaana Capital and Alteria Capital, among others. Kazam plans to utilize the funds to enhance its technology and product teams, expand its offerings, and increase its market presence. Prior to this round, the firm had raised approximately $11 million, according to available data.
As the adoption of electric vehicles (EVs) in India is expected to surge, Kazam’s “charging in a box” solution is seen as a critical component in establishing a reliable EV charging network, according to Nikhil Marwaha, Senior Executive Director at Vertex Ventures Southeast Asia and India.
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam offers a range of EV charging products, including LEVAC Pro for charging stations, Mini for home use, and the Kazam 7.4 kW charger. The company also provides several software solutions for managing charging, fleets, battery swapping, and EV mobile apps.
Kazam collaborates with major companies like BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette. The company’s software supports a wide variety of vehicles, including two-wheelers, commercial electric three-wheelers, and city buses, serving more than 25,000 charging points. Kazam currently facilitates over 15 million EV kilometers per month, with 10% of its contributions coming from international clients across the Global South.
Government officials, particularly from the Ministry of Power, have been actively consulting with companies in the electric vehicle ecosystem to promote interoperability among charging standards. Additionally, last March, the government announced an Rs 800 crore subsidy for state-run oil marketing companies to establish 7,432 EV charging stations.
