Kazam raises $6.2 million in Series B

Kazam, an EV energy-tech company based in Bangalore, has raised $6.2 million in Series B funding. The round was led by the International Finance Corporation (IFC), with participation from existing investors Vertex Ventures Southeast Asia & India and Avaana Capital Advisors.

The funding will support Kazam’s product development and expansion into new markets, with a focus on digital infrastructure and energy transition tools for electric mobility. With this round, Kazam’s total capital raised now stands at $19.2 million, including $13 million in equity from previous rounds backed by Avaana Capital Advisors, Vertex Ventures, and Chakra Ventures.

“Kazam is building the digital infrastructure for EVs at scale, something that’s critical as the world transitions to clean mobility, IFC’s backing signals confidence in our platform’s potential to decarbonize transport, especially across emerging markets.” said Akshay Shekhar, CEO and Co-Founder Kazam.

Commenting on the investment, Wendy Werner, Country Head, India and Maldives, IFC, said, “EVs are key to accelerating India’s economic growth and energy transition. However, limited charging infrastructure remains a challenge. Our investment in Kazam aligns with IFC’s strategy to catalyze the growth of the electric mobility ecosystem. It will help scale the EV ecosystem and expand access to charging infrastructure, supporting the broader adoption of clean transportation across the country.”

Nikhil Marwaha, Senior Executive Director at Vertex Ventures Southeast Asia & India, added, “We’re extremely happy to welcome IFC as a co-investor in Kazam and strongly believe their global network and experience can help take the company to greater heights. This round is a testament to Kazam’s vision of increasing EV penetration globally, best-in-class full-stack ‘charging-in-a-box’ platform, marquee customer base and the team’s strong execution capability. As Vertex Ventures, we remain excited about the endless prospects for Kazam, and have participated in this round as well.”

Swapna Gupta, Partner at Avaana Capital, said, “Kazam is building the energy gateway for mobility. Kazam’s approach to building a scalable, interoperable digital ecosystem for EV ecosystem is what the sector needs for steady growth and widespread adoption. We invested in Kazam because of their technology prowess and razor sharp focus on execution to address the unique challenges of this emerging market. As EV adoption accelerates globally, Kazam will play a pivotal role in shaping the digital backbone of the future of mobility,”

Kazam reported revenue growth from $1.5 million in FY24 to $6 million in FY25 and is targeting $12 million for the current fiscal year. The company expects to reach EBITDA positivity during this period.

To date, Kazam has onboarded over 68,000 charging points, facilitated more than 5 million charging sessions, and supported the delivery of 45 GWh of energy. According to the company, this has resulted in approximately 46,000 tons of carbon dioxide emissions avoided. In May 2025 alone, the platform enabled 25 million electric kilometers across 80 cities in 10 countries.

Also read: Kazam raises USD 8M in Series A3 funding | Launches LEV-DC Fast charging solution