Kazam, India’s fastest-scaling EV energy-tech company, has raised $6.2 million in Series B funding from the International Finance Corporation (IFC) and existing investors Vertex Ventures SEA & India and Avaana Capital Advisors. The investment will fuel Kazam’s expansion across markets with its energy transition tools to accelerate adoption of sustainable mobility.
This latest round brings Bangalore-headquartered Kazam’s total capital raised to $19.2 million, including $13 million in equity funding in past rounds led by Avaana Capital Advisors, Vertex Ventures SEA & India, and Chakra Ventures.
“Kazam is building the digital infrastructure for EVs at scale, something that’s critical as the world transitions to clean mobility,” said Akshay Shekhar, CEO and Co-Founder Kazam. “IFC’s backing signals confidence in our platform’s potential to decarbonize transport, especially across emerging markets.”
“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,” said Wendy Werner, Country Head, India and Maldives, IFC.
“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.” Said Nikhil Marwaha, Senior Executive Director, Vertex Ventures Southeast Asia & India.
“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,” said Swapna Gupta, Partner, Avaana Capital
Kazam has seen rapid growth, with revenues rising 4X from $1.5 million in FY24 to $6 million in FY25, and targets $12 million in revenue this fiscal, with EBITDA positivity in sight.
Today, Kazam has onboarded over 68,000 chargers, enabled 5 million+ charging sessions, and facilitated 45 GWh of energy, resulting in 46,000 tons of CO₂ avoided. Just last month, the platform powered 25 million electric km across 80 cities and 10 countries.
This funding marks a pivotal moment as Kazam scales its technology and reach, bringing reliable, accessible EV charging to the forefront of the global energy transition.
