Kazam Raises $6.2 Million in Series B from IFC, Vertex Ventures SEA & India and Avaana Capital to Accelerate Global Digital EV Infrastructure
National, 23rd June: 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.
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 on boarded 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.