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EV charging station startupKazamplans to expand beyond India , where it already holds a pregnant share of the market , and into Southeast Asia to make an early mover ’s reward , TechCrunch has exclusively pick up .
The Bengaluru - headquarter inauguration , which has office in Delhi and Pune and city director in 4,000 postal codes across India , is arrange to debut in Malaysia , Thailand and Indonesia .
The expansion is part of Kazam ’s roadmap , which it set after close a fresh $ 8 million Series A3 round led by Vertex Ventures Southeast Asia and India . The inauguration also project to go deep into the South Asian nation by establishing its footmark in new city and build fast courser specifically for electric two and three - Sir Mortimer Wheeler , the segment that currentlydominates the overall EV marketin the country , Kazam co - beginner and CEO Akshay Shekhar said in an audience .
Initially , Kazam plans to accede Southeast Asiatic market place through its existing customers . The startup already works with Petroliam Nasional Berhad ( commonly called Petronas ) in India . The energy group owned by the Malayan government will help Kazam enter its home country . Similarly , the startup is in discussions with vehicle manufacturer to reave into Sri Lanka , Nepal , Indonesia and even African markets including Kenya and Uganda over metre , the co - father told TechCrunch .
The all - equity round also saw participation from Kazam ’s existing investor Avaana Capital and Alteria Capital . The inauguration has lift $ 13 million to escort .
The startup , which utilise around 160 people , plan to hire product and ontogeny experts to pad the development of its profligate charger and lucubrate interoperability in the market . It presently does the R&D for its result in - house and natively designs PCBs for its battery charger . However , the startup outsources hardware fabrication to limit its capex .
Kazam’s backstory
During the COVID lockdown in 2020 , Shekhar and his co - beginner Vaibhav Tyagi ( CTO ) make the deficiency of domestic charge infrastructure in India . The duo , who also had a successful YouTube TV channel review EVs , initially focused on two and three - wheelers . After starting its operations in April 2021 , the inauguration tally onboarded fleet company for its EV charging ironware and software .
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“ Fleet operators ’ enceinte trouble was ensuring that all their vehicles were charge the next morning . Unexpected world power cuts , drivers unable to utilize chargers properly and concern about the legitimacy of drivers and their vehicles were key challenge for them , ” Shekhar tell apart TechCrunch . “ So , we clear all this , and Kazam became a quick achiever . ”
short after win with fleet operators , Kazam attracted logistic company , e - Department of Commerce players and automobile manufacturers for its electric charging solution . The startup developed EV chargers for various vehicles and software to provide telemetrics and perceptiveness on available charging points and connectivity through a splashboard as well as payment support .
India ’s top seven to eight vehicle manufacturers , two of the large oil and gas society and around 30 fleet companies utilise Kazam ’s computer hardware and software solutions , the executive say . The startup has more than 25,000 bearing points , which powers 15 million kilometers per calendar month and 2.5 million charging sessions annually .
The startup , which is pep up by the U.S. EV bear down connection providerChargePoint , counts major caller , including e - commerce chopine such as BigBasket and Flipkart , vehicle manufacturers such as Ather Energy , Bajaj , Hero MotoCorp and TVS , and logistics provider LetsTransport and Mahindra Logistics , among others .
While some of these companies specifically habituate Kazam ’s charging direction software , a few of them expend its load stations . The startup also bloodless - labels its computer hardware so that some manufacturers can sell it with their own branding . Kazam take it has 75 % to 80 % of India ’s total three - cyclist EV turn on market and a 40 % share in the electric two - Sir Robert Eric Mortimer Wheeler charging space through both its own - stigmatize and white - label courser .
Kazam worked closely with the Indian regime to launchIS-17017as the country ’s burden measure for sluttish galvanic vehicle . Additionally , it is working with some automobile party to found an interoperable fast - institutionalize technology to charge vehicle in 15 - 20 bit .
“ We want to start digitizing mightily from the grid . And because we ’ve already been work with the vehicle OEMs [ original equipment manufacturer ] , that part has become very easy for us to integrate onto the political platform , ” order Shekhar .
Last month , Google named Kazam among the Indian EV charging web provider toshow two - wheeler charging pointsin the country through Google Maps . It is an expanding upon of the featurelaunched in the U.S.over five years ago , though the Indian version is the first to put up EV charging stations for two - wheelers . Further , the startupjoined the open energy connection Unified Energy Interfacein April along with 19 other companies to offer interoperable EV charging .
Kazam record an annual recur revenue ( ARR ) of $ 3.2 million in July and projects to make $ 4.5-$5 million ARR by the end of the year . It also aim to become Earnings Before Interest Taxes Depreciation and Amortization - positive soon , Shekhar said .
