EV Charger Provider Kazam has Raised a Total of Rs. 7cr in Seed Round
First Indian intelligent IoT-based charging station Kazam has raised ₹7crores in a Seed round led by Inflection Point Ventures.
This one-year-old Start-up has set up over 30 smart-charging stations in five states Karnataka, Maharashtra, Delhi/NCR, Telangana, and Tamil Nadu. Kazam states that the funds will elevate sales, development of the product, marketing, and operations. The Company added its aim to leverage the growing Electric Vehicle (EV) market in India and the need for charging infrastructure for all vehicles in both personal & commercial applications. The network of Kazam charging stations will consist of IoT devices for connectivity, analytics, BMS, and the ability to meter and bill users through a mobile app.
The technological development by Kazam is notable. The charging station cuts manpower. The built-in charging station and software can be installed and operated through a mobile application.
Digging deeper into the EV ecosystem over five months, Kazam has built the hardware & software tech for affordable and smart-EV charging infrastructure. Provides an open architecture that will help other manufacturers to use their protocols and APIs.
Officials' Statements
Akshay Shekhar, Co-Founder, Kazam said, “Electric Vehicles, especially 2W & 3W are growing at a rapid pace and Kazam has a solution for all the EV charging needs for fleet operators, home charging, and public charging. We not only provide hardware but the software needed to manage and operate daily.”
Further adding he stated that “Our partnership with one of the leading EV fleet operators has already taken a good shape where we are seeing very high transaction rates on our station. We expect to put 10,000 charging stations in 2021-22 and build a robust team to support it. Even with the 2nd wave of Covid hitting our way, IPV and our other investors have stayed resilient and continue to believe in our vision to make electric mobility accessible to all,”
Vaibhav Tyagi, Co-Founder, Kazam added, “In the consumer segment, customers do want their hands on EVs but the lack of infrastructure makes them hesitant. Kazam’s affordable charging stations and its approach to creating micro-entrepreneurs who can host these smart charge-points to earn income will create a network of charge-points across the country.”
Vinay Bansal, Founder, and CEO, Inflection Point Ventures said, “In the last 5 years, the Government of India has announced multiple beneficial initiatives to increase the sales of EV vehicles. Kazam fits in organically as we believe with more electric mobility startups getting launched and scaled, the infrastructure and discovery need (especially charging the vehicles) will be critical in the overall success of this sector. Kazam’s strong founding team has an in-depth understanding of technology and physical infrastructure needed to help the sector grow faster and this encouraged us to invest in the Company.”
What's next?
According to India Energy Storage Alliance (IESA) report, the EV market in India is projected to cross over 6.3 million units per year by 2027. And companies like Kazam are giving their best to prepare a suitable infrastructure.
Kazam is a company consisting of a group of environmental enthusiasts who are experienced in solar, energy & consumer goods. They are on a mission to make renewable mobility accessible to all. The chargers are proudly produced in house by IITians. Made in India product for green tech-friendly Indian customers! to know more about kazam check out https://www.kazam.in .
