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Electric mobility software platform Kazam raises $3.6 million for global expansion

Kazam, a device-agnostic electric mobility software platform for charge point operators, fleet operators and electricity grids, has raised $3.6 million in a round led by Avaana Climate Fund. This new capital infusion will help Kazam expand its reach outside of India and create a go-to-market strategy for the company in the global market.

Speaking to Startup Street, Kazam’s co-founder and CEO Akshay Shekhar said, “A lot of our software requirements started coming inbound internationally and that’s when we started really thinking that we should not just be focusing and limiting ourselves when this whole software stack can be expanded globally. So with this new fund also the whole idea is to expand the software base outside of India and create a go to market strategy for us in that space.”

The company 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.

Early-stage VC fund 3one4 Capital has raised $200 million or Rs 1,600 crores for its fourth fund, which will continue its early-stage venture capital strategy. The fund was oversubscribed in 2.50 months, and 90 percent of the fund was raised from institutional investors. This is the sixth fund raised by 3one4 Capital, and it also marks is debut at GIFT-IFSC and its first offshore vehicle. The firm’s Founding Partner Pranav Pai spoke to Startup Street about their investment strategy and themes.

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First Published: May 10, 2023 7:18 PM IST

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