Electric vehicle (EV) charging station startup Kazam is set to expand its operations beyond India, where it already holds a significant market share, into Southeast Asia. According to an exclusive report from TechCrunch, this move aims to capitalize on early market opportunities.
Headquartered in Bengaluru, with offices in Delhi and Pune, Kazam has established a strong presence across India, with city managers in over 4,000 postal codes. The company now plans to debut in Malaysia, Thailand, and Indonesia as part of its international expansion strategy.
This expansion follows a successful $8 million Series A3 funding round led by Vertex Ventures Southeast Asia and India. In addition to its plans for Southeast Asia, Kazam will continue to strengthen its presence in India by entering new cities and developing fast chargers for electric two- and three-wheelers, which dominate the country’s EV market, according to co-founder and CEO Akshay Shekhar.
Kazam’s initial entry into Southeast Asia will be through its existing partnerships, including a key collaboration with Petroliam Nasional Berhad (Petronas). This Malaysian state-owned energy giant is already a customer in India. Shekhar told TechCrunch that the company is also in talks with vehicle manufacturers to explore potential expansions into Sri Lanka, Nepal, and several African markets, including Kenya and Uganda.
The startup, which has raised $13 million to date, also attracted investment from existing backers Avaana Capital and Alteria Capital. Kazam, currently employing around 160 people, plans to hire additional product and development experts to enhance its fast-charging solutions and increase market interoperability. While Kazam conducts research and development for its chargers in-house, it outsources hardware manufacturing to minimize capital expenditure.
Kazam’s Journey
Kazam was founded in response to the lack of domestic charging infrastructure in India, a challenge Shekhar and co-founder Vaibhav Tyagi (CTO) identified during the COVID-19 lockdown in 2020. Initially focused on two- and three-wheelers, Kazam began operations in April 2021 and quickly onboarded fleet companies for its charging hardware and software solutions.
“Fleet operators faced significant issues, such as ensuring all vehicles were charged overnight, managing unexpected power cuts, and addressing concerns around charger usability and driver authenticity,” Shekhar explained. “We solved these problems, leading to Kazam’s rapid success.”
Building on its early achievements, Kazam expanded its customer base to include logistics companies, e-commerce platforms, and automotive manufacturers. The startup now provides charging solutions for a wide range of EVs, along with software that offers telematics, real-time charging insights, and payment integration through a dedicated dashboard.
Today, Kazam’s client roster includes major Indian vehicle manufacturers such as Ather Energy, Bajaj, Hero MotoCorp, and TVS, alongside e-commerce platforms BigBasket and Flipkart. Logistics providers LetsTransport and Mahindra Logistics also rely on Kazam’s charging infrastructure. The startup manages over 25,000 charging points, facilitating 2.5 million charging sessions annually and powering 15 million kilometers each month.
Kazam is particularly dominant in India’s EV charging market, claiming a 75-80% share of the three-wheeler segment and around 40% in the two-wheeler market, through both its branded and white-labeled chargers. The company has also played a key role in launching IS-17017, India’s standard for light EV charging, and is collaborating with automakers to introduce fast-charging technology capable of charging vehicles in 15-20 minutes.
Looking ahead, Kazam is focused on digitizing grid-level charging solutions, with seamless integration thanks to its existing work with vehicle original equipment manufacturers (OEMs). The company’s innovative approach recently earned it a spot on Google Maps, where it is one of the first providers to display two-wheeler charging points in India. Additionally, Kazam joined the Unified Energy Interface, an open energy network, to enhance interoperability.
Kazam recorded an annual recurring revenue (ARR) of $3.2 million as of July and expects to reach $4.5 to $5 million by year-end. Shekhar noted that the company is also working towards becoming EBITDA-positive.
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