Bengaluru-based EV charging station startup Kazam has decided to extend past Indian lines into Southeast Asia. This move is essential for Kazam’s system to acquire a first-mover advantage. The district’s locale’s developing electric vehicle (EV) market.
Kazam Expansion Plans
Kazam’s International Expansion means entering Malaysia, Thailand, and Indonesia. The company also wants to strengthen its presence in India. Where two-wheelers and three-wheelers account for 81% of all-electric vehicles sold. To do so, they plan to develop fast chargers for these vehicles.
Partnerships and Market Entry
Kazam will consider leveraging existing customer relationships to facilitate entry into new markets. It already collaborates with Malaysian state-owned oil and gas giant Petronas through its partnership with Indian ride-hailing firm Ola in India. Discussions are also being held with automakers about expanding into Sri Lanka, Nepal, Indonesia, and African countries like Kenya and Uganda.
Kazam Funding and Growth
The startup raised $8m in a Series A3 round led by Vertex Ventures Southeast Asia and India, which secured the funding to $13 m. The company intends to use this latest capital injection mainly to hire product experts and development engineers and expand with market interoperability solutions.
Origins of Kazan
It was founded last year during COVID-19 lockdowns by Akshay Shekhar & Vaibhav Tyagi, who previously worked together at Flipkart – one of IIndiaIndia’sst e-commerce companies based out of Bangalore City, which was recently acquired by US retail giant Walmart Inc.). Initially focused on solving domestic charging infrastructure issues across India, particularly those faced by 2W/3W category vehicles, such as lack of enough charging points, etc., it quickly gained traction among fleet operators offering reliable charging solutions for their vehicles while idle.
Growth & Industry Impact
Kazam’s fleet operators opened doors to partnership opportunities with logistics players, e-commerce platforms, and vehicle manufacturers. The startup offers various EV charging solutions, including hardware and software that provide telemetrics, insights, and payment support. Kazam powers over 25k charge points, enabling 15m km per month and facilitating 2.5m charging sessions yearly.
Market Share & Industry Collaboration
With a market share between 75-80% in three-wheeler EV segment alone (40% in two-wheeler segment) Kazam is by far the most significant player in InIndia’sIndia’st-wng electric vehicle charging infrastructure industry. The company works closely with well-known brands like BigBasket, Flipkart, Ather Energy, Bajaj Auto Ltd., Hero MotoCorp Ltd., TVS Motor Company Ltd, etc., while also collaborating closely with the Indian government on setting up standards for charging infrastructure across the country along with developing interoperable fast-charging technologies.
Kazam Recognition & Future Goals
Google recently recognized Kazam by listing its two-wheeler charging stations on Google Maps in India. The company is also part of Unified Energy Interface, which aims to promote interoperability. The worldwide electric vehicle charging ecosystem.
