Indian EV charging station startup Kazam is all set to debut in Southeast Asia

To obtain an early mover advantage, Kazam, the EV charging station startup intends to expand the business beyond India to Southeast Asia. The company already holds and controls a sizeable market share in the Indian industry and is aiming to become global with its new initiative, TechCrunch reported on Monday.

The Bengaluru-based business, which currently operates in Delhi and Pune and city managers in 4,000 postcodes throughout India, is expected to launch itself in Malaysia, Thailand, and Indonesia.

The plan is a step taken under Kazam’s wider vision that was set after the company raised $8 million in funding in the Series A3 round held by Vertex Ventures Southeast Asia and India. 

According to co-founder and CEO of Kazam, Akshay Shekhar, the company also intends to expand further into the South Asian country by establishing a presence in new cities and developing fast chargers tailored for electric two- and three-wheelers—the segment that currently controls the majority of the country's EV market.

At first, Kazam intends to use its current clientele to break into the Southeast Asian market. In India, Petroliam Nasional Berhad, often known as Petronas, is a client of the startup. The government of Malaysia owns an energy group that will assist Kazam in entering its homeland. In a similar vein, the co-founder of the firm told TechCrunch that they are in talks with automakers about expanding into Sri Lanka, Nepal, Indonesia, and eventually even African countries like Kenya and Uganda.

Avaana Capital and Alteria Capital, two of Kazam's current investors, also took part in the all-equity round. Up to now, the business has raised $13 million.

The business has about 160 employees and intends to bring on board product and development specialists to support the advancement of its fast chargers and increase market interoperability. At the moment, it internally conducts R&D for its solutions and creates PCBs for its chargers. To cut costs, the firm, however, outsources the fabrication of hardware.