Kazam's Strategic Expansion into Southeast Asia: Revolutionizing EV Charging Infrastructure Beyond India with Innovative Solutions

Kazam's Strategic Expansion into Southeast Asia: Revolutionizing EV Charging Infrastructure Beyond India with Innovative Solutions
Image credit: Kazam

Kazam, an EV charging station startup based in Bengaluru, is set to expand beyond India into Southeast Asia, aiming to gain a first-mover advantage in emerging markets. The startup, which already holds a significant market share in India, plans to debut in Malaysia, Thailand, and Indonesia. The expansion follows a successful $8 million Series A3 funding round led by Vertex Ventures Southeast Asia and India. This move is part of Kazam's broader strategy to strengthen its presence in India while exploring new markets across Southeast Asia and beyond.

Leveraging Existing Partnerships for Strategic Growth

Kazam plans to enter Southeast Asia through its existing partnerships, including collaborations with Petroliam Nasional Berhad (Petronas), the Malaysian government-owned energy group. This relationship will facilitate Kazam's entry into Malaysia, with similar plans to expand into Sri Lanka, Nepal, Indonesia, and even African markets like Kenya and Uganda. Kazam’s co-founder and CEO, Akshay Shekhar, shared these insights in an interview with TechCrunch, highlighting the company’s ambition to scale its operations internationally.

Dominance in India's EV Charging Market and Future Goals

Kazam has established itself as a key player in India's EV charging market, holding a 75-80% share in the three-wheeler EV charging segment and a 40% share in the two-wheeler market. The startup’s hardware and software solutions are used by India's top vehicle manufacturers, major oil and gas companies, and approximately 30 fleet companies. With more than 25,000 charge points powering 15 million kilometers monthly and 2.5 million annual charging sessions, Kazam has solidified its market leadership in India. Inspired by the U.S. EV charging network provider ChargePoint, Kazam has partnered with companies like BigBasket, Flipkart, Ather Energy, Bajaj, Hero MotoCorp, and TVS.

Kazam’s Innovative Approach to EV Charging Solutions

Kazam's journey began during the COVID-19 lockdown in 2020, when co-founders Akshay Shekhar and Vaibhav Tyagi identified a gap in India’s domestic charging infrastructure. Initially focusing on two and three-wheelers, the startup quickly expanded its services to include fleet companies, logistics providers, e-commerce platforms, and automobile manufacturers. Kazam developed EV chargers compatible with various vehicles, offering software solutions that provide telemetrics, insights on available charging points, connectivity, and payment support. The company also white labels its hardware, allowing manufacturers to sell it under their own branding.

Pioneering Standards and Technological Advancements

Kazam has been instrumental in working with the Indian government to establish IS17017 as the country’s charging standard for light electric vehicles. The startup is also collaborating with automobile companies to develop an interoperable fast-charging technology capable of charging vehicles in 15-20 minutes. In April, Kazam joined the open energy network Unified Energy Interface alongside 19 other companies to offer interoperable EV charging. Additionally, Google recently named Kazam among the Indian EV charging network providers to display two-wheeler charging points on Google Maps, a feature that has been available in the U.S. for over five years.

Financial Growth and Future Prospects

Kazam has demonstrated strong financial growth, recording an annual recurring revenue (ARR) of $3.2 million in July 2023, with projections to reach $4.5–$5 million ARR by the end of the year. The startup also aims to achieve EBITDA positivity in the near future. With ongoing expansion plans, partnerships, and technological advancements, Kazam is well-positioned to revolutionize the EV charging infrastructure both in India and internationally.