- Indian EV charging startup Kazam expands to Southeast Asia after $8 million funding.
- Company dominates India’s market with 25,000 charge points and innovative solutions.
- Kazam aims for $5 million annual revenue and EBITDA-positive status by year-end.
Plugging into new markets
Kazam, an Indian EV charging station startup, is gearing up for a significant expansion into Southeast Asia.
The Bengaluru-based company plans to enter Malaysia, Thailand, and Indonesia, leveraging its existing partnerships and market dominance in India. This move follows a fresh $8 million Series A3 funding round led by Vertex Ventures Southeast Asia and India.
Founded during the 2020 COVID lockdown, Kazam has rapidly grown to become a major player in India’s EV charging infrastructure.
The startup boasts over 25,000 charge points, powering 15 million kilometers monthly and 2.5 million annual charging sessions.
Kazam’s success stems from addressing key challenges faced by fleet operators and developing solutions for various EV types.
Amping up the innovation
Kazam’s in-house R&D has led to the development of fast chargers and interoperable charging technology.
The company played a crucial role in establishing India’s charging standard for light electric vehicles and is now working on reducing charging times to 15-20 minutes.
With a projected annual recurring revenue of $4.5-$5 million by year-end, Kazam aims to become EBITDA-positive soon.
