Fresh Funding Fuels Growth Ambitions
Bengaluru-based electric mobility technology company Kazam has secured $6.2 million in Series B funding, led by the International Finance Corporation (IFC), with continued backing from Vertex Ventures and Avaana Capital. This latest round brings Kazam’s total funding to $19.2 million, including $13 million from previous equity rounds.
Scaling Device-Agnostic EV Charging Solutions
The new capital will enable Kazam to accelerate the expansion of its digital EV infrastructure offerings across India and international markets. CEO and co-founder Akshay Shekhar emphasized Kazam’s mission to build device-agnostic digital infrastructure for EVs at scale—a critical component for widespread clean mobility adoption.
Rapid Platform Growth and Environmental Impact
Kazam’s platform has witnessed rapid growth, onboarding over 68,000 chargers, enabling more than 5 million charging sessions, and facilitating over 45 GWh of energy. In May alone, the platform powered 25 million electric kilometers across 80 cities and ten countries, helping avoid an estimated 46,000 tons of carbon dioxide emissions. Kazam’s solutions serve charging and battery swapping operators, OEMs, and fleet operators, making it a key enabler in the EV ecosystem.
Strong Financial Performance and Ambitious Targets
The company achieved revenues of $6 million in FY25—quadrupling its FY24 figures—and is targeting $12 million this fiscal year. IFC’s Wendy Werner highlighted that the investment will help scale the EV ecosystem and expand access to charging infrastructure, supporting the broader adoption of clean transportation in India.
Strategic Vision for the Future
Founded in 2020, Kazam is now focused on scaling its energy transition tools and expanding its presence in both domestic and international markets. With strong investor backing and a focus on robust digital infrastructure, Kazam is positioned as a pivotal player in India’s and the world’s shift to electric mobility.
