Device-agnostic electric mobility software platform Kazam raises US$ 3.6 million in funding

Kazam, a device-agnostic electric mobility software platform for Charge Point Operators, Fleet Operators, and Electricity Grids, has raised US$ 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 has been building its flagship EV fuelling platform and now aims to build a one- stop e-mobility software platform – digitising 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. 

Kazam’s software to manage fuelling for EVs is 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 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%, as per the press release.