Avaana Climate Fund funded an investment round that garnered $3.6 million for Kazam, an electric mobility software platform for charge-point operators, fleet operators, and power grid management. Third Derivative, as well as current investors Inflection Point Ventures and We Founder Circle, are additional investors in the Series A round.

With more than 7,000 charging stations already managed by Kazam, the company's immediate goal is to incorporate 60,000 charging and switching stations with its operating system over the course of the following 14 to 15 months. The startup with headquarters in Bengaluru also stated that it has aspirations to grow even further in other markets including the United States, where it now has alliances with two charge-point operators who are in control of 3,000 vehicles.

It supports more than 60 charge-point operators in India, including significant e-commerce players, 2-wheeler OEMs, and third-party logistics providers. "The money will be invested in product and technical teams in order to expand the platform's capabilities to its current customers. The funding will also enable us to keep holding the top spot in the e-mobility software sector, according to founder and CEO Akshay Shekhar. According to Shekhar, with the money in place, the company intends to increase its employees from 75 to roughly 140.

Shekhar and Vaibhav Tyagi founded Kazam in 2021. Its operation has expanded to include the monthly management of 150,000 kilowatt hours (kWh) of power. International customers of the business are located in the Americas, Europe, and Asia-Pacific. Numerous vehicles, including two-wheelers, commercial electric three-wheelers, and city buses for local transportation, use its software.

The market for EV charging infrastructure will increase rapidly from $7.7 billion in 2020 to $27.7 billion in 2025, growing at a pace of 29.4%. "Kazam's hardware-agnostic skills put it in a good position to profit from the rising demand for EVs in India and around the world. According to Swapna Gupta, Partner at Avaana Climate Fund, "We are convinced that Kazam will play a leadership role in democratising access to EV because of its capacity to drive data-led insight to grid, fueling, and fleet operations.

The Avaana Climate and Sustainability Fund, managed by Avaana Capital, is a climate-tech venture capital fund that invests in climate mitigation, adaptation, and resilience across sectors like resource management and energy transition, transportation and supply chains, and sustainable agriculture and food systems.