Kazam raises Rs 7 crore in funding led by Inflection Point Ventures

Battery charging services startup Kazam has raised Rs 7 crore in a seed round led by early-stage venture capital fund Inflection Point Ventures (IPV).

This is the angel network’s 19th deal so far this year. IPV has invested Rs 207 crore across 77 companies since 2018.

The one-year-old startup will use the funds for product development, scaling up operations, and ramping up sales and marketing.


Many early-stage companies are gearing up to offer solutions for electric vehicles and are solving infrastructure needs to keep up with the big push for electric mobility.

Founded last year by Akshay Shekhar and Vaibhav Tyagi, Kazam runs Internet of Things-enabled EV charging stations in Karnataka, Maharashtra, Delhi NCR, Telangana and Tamil Nadu.

“The company is looking to expand from its current network of 30 charging stations,” it said in a statement.

The charging stations will be enabled with IoT devices for connectivity, analytics, battery management services and ability to meter and bill users through an app, the company said.

Kazam has built the hardware and software technology for affordable and smart EV charging infrastructure. It has also built an open architecture to help other charging hardware manufacturers use their protocols and APIs.

Its in-built charging stations and software can be installed and operated by a mobile application, without the need for any manpower.

“The open software architecture allows businesses, EV manufacturers, fleet operators to get easy API integration for any kind of hardware along with a dashboard for monitoring utilisation, cost-saving and environmental impact,” Shekhar said.

In 2019-20, India's EV sales totalled 380,000 units, with the EV battery demand totalling 5.4 GWh.

According to a report by India Energy Storage Alliance (IESA), the EV market in India is projected to cross over 6.3 million units per year by 2027.

“Electric mobility is picking up pace very quickly with a large population aspiring to shift to electric vehicles, and with this, the demand of its resources is also increasing. Kazam is catering to this need with its expertise in charging stations, helping the entire sector grow,” said Vinay Bansal, founder-CEO, Inflection Point Ventures.