Electric mobility startup Kazam to raise $6 Mn in Series B round

Electric mobility platform Kazam is raising Rs 51 crore (around $6 million) in its Series B round led by Vertex Ventures.

The round also saw participation from Avaana Capital and Chakra Growth Capital.

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According to a regulatory filing with the Registrar of Companies (RoC), Kazam’s board has approved a special resolution to issue 36,410 Series B compulsory convertible preference shares at $165.06 each to raise the announced amount.

IFC VVSEA Co-Invest LP and Vertex Ventures SEA Fund, both representing Vertex Ventures, will jointly invest $4.9 million. Avaana Capital will contribute $1.01 million, and Chakra Growth Capital will invest $0.9 million.

After the recent fundraise, IFC VVSEA Co-Invest and Vertex Ventures will jointly hold a 22.88% stake in the company. Avaana Capital will own 17.02%, while Chakra India will have a 1.51% stake.

The company will use the newly raised capital to support its growth, expansion plans, and general corporate activities.

About Kazam 

Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform focused on building smart and affordable charging networks. Its technology supports a range of vehicles, including two-wheelers, three-wheelers, commercial EVs, and city buses. The company claims to power over 25,000 charging points.

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