E-mobility startup Kazam has raised $8 million in a Series A3 funding round led by Vertex Ventures Southeast Asia & India, with contributions from Avaana Capital, Alteria Capital, and other prominent investors. This new capital injection follows a previous $11.4 million funding round also led by Avaana Capital Advisors.
The funds will be directed towards enhancing Kazam’s technology and product offerings, scaling its platform, and broadening its market reach. Co-Founder and CEO Akshay Shekhar emphasized that the investment will support Kazam’s expansion into new markets and boost product development, including their latest fast charger, the LEV-DC, which charges two and three-wheelers in 15-20 minutes. Kazam aims to increase its pin code coverage from 5,000 to 10,000 in India and enter international markets like Sri Lanka, Nepal, and Eastern Africa.
In related news, Fourth Partner Energy has secured $275 million from IFC, ADB, and DEG in a significant funding round. This investment will fuel the company’s goal of reaching 3.5 gigawatts of renewable energy assets by 2026, meeting the growing demand for sustainable energy solutions.
Additionally, Scimplify, a startup in specialty chemical manufacturing, has raised $9.5 million in Series A funding led by Omnivore. The funds will enhance R&D capabilities and facilitate global expansion. Scimplify, founded in 2023, has seen substantial growth and aims to achieve $50 million in annual revenue and profitability within the next 10 to 12 months.
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