EV Charging Startup Kazam Raises Rs 30 Crore
With the funding, the company aims to build a "white-labeled suite of software" for electric vehicle charging.
Bengaluru-based Kazam, a startup that offers charging solutions for electric vehicles, has raised Rs 30 crore ($3.6 million) in a round led by Avaana Climate Fund.
Other investors include Third Derivative and existing investors—Inflection Point Ventures and We Founder Circle.
The company offers hardware and software products for charging electric vehicles.
The software product is Kazam CMS, developed for electric vehicle fleets, chargepoint operators, charging station manufacturers and commercial properties like workplaces and societies, which will allow them to set up their own charging network. The hardware product includes two 3.3 KW AC smart charging stations meant for electric cars and two-wheelers.
With the funding, the company aims to focus on the software business and build a "white-labeled suite of software" that will help clients digitise the entire value chain—managing energy from grid to fuelling an EV to managing a fleet.
Founded in 2020, the company currently has over 7,000 charging points under management and plans to integrate 60,000 charging and swapping stations with its operating system in the next 14-15 months. It also plans to expand in international markets like the U.S. where it has partnerships with two charge point operators managing 3,000 vehicles.
In India, Kazam claims to enable over 60 charge point operators, including large e-commerce companies, two-wheeler OEMs and third-party logistics companies.