IoT Strtup Kazam Raises INR7 Cr In Seed Round Led By Inflection Point Ventures
India's first IoT-based EV charger manufacturer Kazam raised 7 crores in Round seed led by Inflection Point Ventures (IPV). This is Angel Network's 19th contract this year. As of 2018, IPV invested Rs 207 crores in 77 companies. Within one year of funding, startups will use this money to improve their products, expand their business and sales. Kazam was founded in 2020 and currently offers chargers and charging stations for electric vehicles made in India in five states: Karnataka, Maharashtra, Delhi, Telangana, and Tamilnadu. There are more than 30 charging stations.
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“In the past five years, the Indian government has announced many useful steps to boost the sales of electric vehicles. Many EV startups are expanding and we have invested a lot in this sector. So Kazam is the perfect choice for integration. This is because we believe the infrastructure and research needs of vehicle charging are critical to the success of the industry as a whole as more and more e-mobility startups are launched and expanded. Kazam's strong founding team understands the technical and business infrastructure needed to accelerate business growth and drive investment in the business,” said Inflection Point Ventures founder Vinay Bansal.
As per Akshay Shekhar, the co-founder of Kazam Electric vehicles is developing rapidly. Kazam provides solutions that meet the charging needs of electric vehicles for homes and public places. Kazam provides equipment in addition to day-to-day management and operation. Kazam aims to install 10,000 chargers in the coming two years and build a strong team to support it.
According to another co-founder of Kazam Vaibhav Tyagi, customers want to use electric vehicles but take a step backward due to a lack of infrastructure. Through Kazam charging stations, people do smart spending to generate income. Kazam will make people understand how to create affordable micro-entrepreneurs to build a national network of charging points and stations PAN India.
Kazam’s aim towards e-mobility
The company aims to accelerate India's growing electric vehicle (EV) market and demand for charging-per-vehicle (2W/3W/4W) infrastructure for personal and commercial use. The company's goal is to expand its e-mobility network to support IoT devices, enabling customer and billing accounting through connectivity, analytics, BMS, and mobile apps. Kazam also created an open architecture to give the protocol and APIs to other boot device manufacturers. The integrated cost center and software can be installed and managed without any special skills and through a mobile app. The Indian Energy Storage Federation (IESA) reports that the Indian electric vehicle market will exceed 6.3 million units per year by 2027. The number of regular vehicles will start decreasing gradually. India's carbon dioxide emissions also help and motivate Kazam to speed up production.
Who are we?
At Kazam, you can find every possible assistance about Electric vehicles and their charging stations in India. We also take care of our EV buyers and give them customized EV solutions as per their needs. From battery and charging solutions to the range and cost of electric vehicles, this is the one-stop-shop for every EV requirement. For more information, please visit Kazam EV at https://www.kazam.in/, or write to us your concerns on our social media handles Kazam EV, and we will try to respond to your queries at the earliest. Book an appointment today!
