Kazam, a Bengaluru-based EV energy-tech platform, has secured $6.2 million in its Series B funding round. The International Finance Corporation (IFC) led the round, with continued participation from Vertex Ventures Southeast Asia & India and Avaana Capital. This fresh capital strengthens Kazam’s position as a leader in India’s evolving electric mobility ecosystem and sets the stage for rapid growth across markets.
A Growing Capital Base
With this new round, Kazam has raised a total of $19.2 million so far. This includes $13 million in equity from earlier rounds, where Avaana Capital, Vertex Ventures, and Chakra Ventures played key roles. Entrackr recently reported the Series B raise, highlighting growing investor confidence in Kazam’s mission.
Kazam plans to channel the latest investment into expanding its reach and enhancing its technology platform. The team aims to provide robust energy transition tools that will help accelerate the adoption of sustainable mobility in India and beyond.
Kazam’s Vision for the Future of EV Infrastructure
Kazam, founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, focuses on building a device-agnostic digital infrastructure for the EV industry. The platform supports EV charging operators, battery-swapping networks, vehicle OEMs, fleet operators, and power utilities.
Kazam’s solutions help these stakeholders manage and analyze their charging assets efficiently. The team’s goal is clear: simplify and scale electric vehicle infrastructure to drive faster adoption of clean mobility solutions.
Strong Growth and Market Impact
Kazam has already made significant strides in scaling its platform. The company reports that it has onboarded over 68,000 chargers to date and facilitated more than 5 million charging sessions. These numbers underline the platform’s growing role in India’s EV ecosystem.
The company has also posted impressive financial growth. Kazam grew its revenue 4X from $1.5 million in FY24 to $6 million in FY25. The team now targets $12 million in revenue and expects to achieve EBITDA positivity within the current fiscal year. This performance reflects the rising demand for EV infrastructure solutions and Kazam’s ability to meet it.
Trusted by Leading Industry Players
Kazam has forged strong partnerships with major players in the mobility sector. The company works with brands like BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette. These collaborations showcase Kazam’s credibility and the value its platform delivers.
By supporting these partners with data-driven tools and scalable infrastructure, Kazam helps them meet ambitious sustainability goals while ensuring operational efficiency.
Kazam’s Approach to Solving EV Challenges
Kazam’s platform stands out because of its device-agnostic architecture. The system works seamlessly with various charger models, battery-swapping stations, and software stacks. This flexibility allows Kazam to cater to diverse stakeholders across the EV ecosystem.
The company provides detailed analytics that help customers optimize asset usage, reduce downtime, and improve user experience. With these capabilities, Kazam addresses two major bottlenecks in EV adoption: unreliable charging infrastructure and poor asset management.
Backers with a Long-Term Vision
Kazam’s investors share the company’s vision of a cleaner, smarter mobility future. The International Finance Corporation (IFC), part of the World Bank Group, brings both capital and global expertise to the table. The IFC’s involvement signals confidence in Kazam’s strategy and commitment to supporting India’s energy transition.
Vertex Ventures and Avaana Capital have supported Kazam since its earlier stages. They continue to back the company’s plans to scale technology, deepen market penetration, and drive revenue growth.
Expansion Plans Powered by Fresh Capital
Kazam plans to use the Series B funds to accelerate its expansion across India and explore entry into select international markets. The company wants to increase the number of onboarded chargers and battery-swapping stations, deepen partnerships with OEMs and utilities, and refine its analytics capabilities further.
The team will also focus on strengthening its workforce by hiring talent across technology, operations, and business development functions. These efforts will help Kazam build a robust foundation for sustainable and profitable growth.
The EV Opportunity in India
India’s electric mobility sector stands at a tipping point. Government policies, growing environmental awareness, and rising fuel costs have fueled demand for EVs. However, the country still needs extensive charging infrastructure to support this transition.
Kazam addresses this critical gap with technology that allows stakeholders to scale faster, manage assets better, and deliver reliable service to EV users. By enabling seamless operations for fleets, OEMs, and utilities, Kazam ensures that the ecosystem grows in sync with user expectations.
A Commitment to Sustainability
Kazam’s mission aligns with broader national and global goals for clean energy and sustainable transport. The company recognizes that building a resilient EV infrastructure is key to reducing carbon emissions and curbing pollution in cities.
Through its platform, Kazam helps partners minimize energy waste, integrate renewable sources, and contribute to greener urban mobility. The company’s data-driven approach ensures that every decision—from station placement to load management—supports environmental and economic sustainability.
What Lies Ahead
With strong investor backing and clear market demand, Kazam is well-positioned to lead the next phase of India’s EV infrastructure growth. The company will continue innovating on its platform, expanding its reach, and delivering value to partners across the mobility value chain.
Kazam’s journey reflects the enormous potential of technology to solve real-world challenges in the energy transition. As the company scales, it promises to play a pivotal role in shaping a cleaner, smarter future for transport—not just in India, but globally.
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