In addition to current investors Vertex Ventures Southeast Asia & India and Avaana Capital, the International Finance Corporation (IFC) has contributed $6.2 million in Series B funding to Kazam, an EV energy-tech platform based in Bengaluru.
Together with $13 million in equity from earlier rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures, this round brings Kazam’s total capital raised to $19.2 million.
According to a press release from the company, the investment will support Kazam’s market expansion using its energy transition tools to hasten the adoption of sustainable mobility.
Kazam, which was founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, is developing a device-agnostic digital infrastructure platform that allows fleets, power utilities, vehicle OEMs, and EV charging and battery-swapping operators to manage and analyze charging assets.
Over 5 million charging sessions and over 68,000 chargers have reportedly been onboarded by Kazam’s platform.
Additionally, the company’s revenue increased four times from $1.5 million in FY24 to $6 million in FY25, and it is aiming for $12 million in revenue this fiscal year with positive EBITDA.
BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette are just a few of the companies Kazam collaborates with.
