EV energy-tech platform Kazam has secured $6.2 million in a Series B funding round led by the International Finance Corporation (IFC), with participation from Vertex Ventures Southeast Asia & India and Avaana Capital, both of which are existing investors.
This round brings Kazam’s total funding to $19.2 million, including $13 million in equity from previous rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures.
The fresh capital will help Kazam expand its digital EV infrastructure into new markets and accelerate the global transition to clean mobility.
“Kazam is building the digital infrastructure for EVs at scale, a critical piece in the global shift to clean mobility. IFC’s backing is a strong signal of the role our platform can play in decarbonizing transportation across emerging markets,” said Akshay Shekhar, CEO and co-founder of Kazam.
“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.
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Bengaluru-based Kazam provides a digital infrastructure platform that integrates with any device, enabling EV charging and battery-swapping operators, automakers, fleet managers, and utilities to manage and monitor their charging systems efficiently.
Kazam has already onboarded over 68,000 chargers and facilitated more than 5 million charging sessions. The company’s revenue has grown from $1.5 million in FY24 to $6 million in FY25, with ambitions to hit $12 million and achieve EBITDA profitability this fiscal year.
