EV startup Kazam raises $6.2 Mn from IFC, Vertex and Avaana Capital

Bengaluru-based EV energy-tech platform Kazam has raised $6.2 million in Series B funding from the International Finance Corporation (IFC), along with existing investors Vertex Ventures Southeast Asia & India and Avaana Capital.

Entrackr had exclusively reported the Series B round recently.  

This round takes Kazam’s total capital raised to $19.2 million, including $13 million in equity from previous rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures.

The investment will fuel Kazam’s expansion across markets with its energy transition tools to accelerate adoption of sustainable mobility, the company said in a press release.

Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is building a device-agnostic digital infrastructure platform that enables EV charging and battery-swapping operators, vehicle OEMs, fleets, and power utilities to manage and analyze charging assets. 

Kazam’s platform claims to have onboarded over 68,000 chargers and facilitated over 5 million charging sessions. 

The firm also saw its revenue grow 4X from $1.5 million in FY24 to $6 million in FY25 and is targeting $12 million in revenue with EBITDA positivity this fiscal.

Kazam works with the likes of BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.