Kazam

Kazam is a pioneering electric vehicle (EV) charging infrastructure startup addressing India’s growing need for scalable, intelligent mobility solutions. The company emerged to solve peak electricity demand challenges caused by home EV charging, initially partnering with utility providers like BSES Rajdhani and Tata Power. Kazam operates in the EV charging and energy management sector, serving charge point operators (CPOs), fleet operators, OEMs and utilities across India and Southeast Asia. 

Core Products and Services

• LEV-AC Chargers: 3.3 kW AC chargers for homes, offices and public spaces (priced at ₹15,000–30,000).

• LEV-DC Fast Chargers: 80% charge for two/three-wheelers in 20 minutes, launched in 2024.

• Kazam CMS (Charging Management Software): Real-time monitoring, payment integration and load balancing for CPOs.

• Fleet Management System (FMS): Dashboard for fleet operators to track charging status, vehicle health and delivery schedules.

• White-Label Solutions: Custom-branded hardware/software for OEMs like Bajaj and TVS.

• Grid Energy Management: AI-driven tools to mitigate peak load issues for utilities.

Key milestones include

• 2023: Launched IoT-based smart charging stations, deploying 25,000+ charge points by 2024.

• 2024: Secured $8 million in Series A3 funding led by Vertex Ventures, enabling expansion into Southeast Asia.

• 2025: Raised $6 million in Series B (₹51 crore), achieving a $51 million post-money valuation.

Business Model & Revenue Streams

• Hardware Sales (60% of FY24 revenue): Generated ₹12.19 crore ($1.6 million) from charger deployments.

• Software Subscriptions (30%): SaaS platforms contributed ₹6.1 crore ($800K), with 70% gross margins.

• Licensing & Services (10%): Custom solutions for utilities and OEMs.

Top Clients & Partnerships

• Bajaj Auto: White-label chargers bundled with EV sales; 40% share in India’s two-wheeler charging market.

• Ather Energy: Integration of Kazam CMS into Ather Grid public charging network.

• Mahindra Logistics: Fleet management solutions for 5,000+ EVs.

• BigBasket: 700+ charging points across 12 cities, reducing ICE dependency by 26%.

• Petronas (Malaysia): Joint pilot for EV charging infrastructure in Kuala Lumpur.

Future Outlook & Strategic Priorities

• Product Innovation: Scaling LEV-DC fast chargers (target: 50,000 units by 2026) and SaaS platforms for grid management.

• Global Expansion: Entry into Malaysia, Thailand  and Indonesia via Petronas partnership; targeting 25% international revenue by 2027.

• Policy Tailwinds: Alignment with India’s PLI scheme for advanced charging infrastructure and Bharat Charger Standard.

• Import Dependency: 40% of semiconductor components sourced globally, exposing margins to supply chain volatility.

• Technological Disruption: Rising competition from OEMs developing in-house charging solutions (e.g., Ola Hypercharger).