Kazam, an EV charging platform, has successfully secured USD 8 million in funding to expand its technology, product offerings, and market presence. The funding round was led by Vertex Ventures Southeast Asia and India, with participation from Avaana Capital, Alteria Capital, and other investors. With this capital injection, Kazam aims to accelerate its growth and maintain its leadership position in the e-mobility sector.
The company plans to strengthen its technology and product teams, enhance its platform offerings, and increase its market presence in response to the growing electric vehicle market in India. Kazam's goal is to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations. With less than 5% penetration in the Indian electric market, the company believes that a scalable EV infrastructure is essential to support the rapid expansion and address range anxiety.
Kazam EV Tech, founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, offers a variety of EV charging products and services, including charging stations for different vehicle types, software solutions for charging and fleet management, and EV mobile apps. The company collaborates with major players in the industry such as BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette to provide reliable EV charging solutions.
As EV adoption continues to rise in India, Kazam's innovative solutions like the 'charging in a box' become increasingly crucial for creating a robust and efficient EV charging network. The funding received from Vertex Ventures and other investors will enable Kazam to further develop its technology, expand its product offerings, and solidify its market presence in the evolving e-mobility landscape.
Tesla's presence in Selangor, Malaysia, is set to grow as the state government welcomes the electric vehicle (EV) giant's plans for continued investment in research and development, as well as the opening of EV service centers. Menteri Besar Datuk Seri Amirudin Shari expressed enthusiasm for...
Draganfly Inc., a renowned drone solutions and systems developer, is scheduled to host a shareholder update call on August 13th, 2024, at 5:30pm EST. The company's CEO Cameron Chell will lead the call, discussing key milestones, while CFO Paul Sun will delve into the financial results for Q2...
Greaves Cotton Limited, a leading diversified engineering company in India, has reported robust results for the first quarter of FY25. The company's standalone revenues grew by 12% year-on-year to INR 445 crore, with quarterly EBITDA reaching INR 50 crore, also up by 12% year-on-year. On a...
Companies in the United States and Canada have been facing a wave of job cuts in 2024, adding to the thousands of layoffs that occurred last year. The uncertain outlook on potential interest rate cuts by the Federal Reserve has left businesses grappling with economic unpredictability, even as...
CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is making strides in sustainable lithium projects in Chile with the formal start of its initial public offering of Chess Depositary Interests (CDIs) and pursuit of a dual-listing on the Australian Securities Exchange (ASX) under the...
