EV startup Kazam raises $6.2 Mn in Series B round from IFC, others

EV energy-tech platform Kazam has secured $6.2 million in Series B funding round from the International Finance Corporation (IFC).

The round also saw participation from existing investors Vertex Ventures Southeast Asia & India and Avaana Capital.

With this round, Kazam has raised a total of $19.2 million, including $13 million in equity from earlier rounds led by Avaana Capital, Vertex Ventures and Chakra Ventures.

Read also- PharmEasy Founders Launch Interior Design Venture All Home

The new funding will help Kazam grow its digital EV infrastructure in more markets and support the global move toward sustainable transportation.

“Kazam is building the digital infrastructure for EVs at scale, a critical piece in the global shift to clean mobility,” said Akshay Shekhar, CEO and cofounder, Kazam. “IFC’s backing is a strong signal of the role our platform can play in decarbonizing transportation across emerging markets.”

“EVs are key to accelerating India’s economic growth and energy transition. Kazam’s approach will help scale the EV ecosystem and expand access to charging infrastructure, supporting the broader adoption of clean transportation across the nation,” said Wendy Werner, IFC’s Country Head for India and Maldives.

About Kazam 

Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, the Bengaluru-based Kazam is developing a digital infrastructure platform that works with any device, helping EV charging and battery-swapping operators, vehicle makers, fleets, and power companies manage and monitor their charging systems.

The platform has onboarded over 68,000 chargers and enabled more than 5 million charging sessions.

Kazam’s revenue grew 4 times, from $1.5 million in FY24 to $6 million in FY25, and the company is aiming for $12 million in revenue and EBITDA profitability this fiscal year.

Advertisment

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success.