Kazam, an energy-tech platform for electric vehicles (EVs), has raised $6.2 million in Series B funding from the International Finance Corporation (IFC).
Existing investors Vertex Ventures Southeast Asia & India and Avaana Capital also took part in this funding round.
With this latest investment, Kazam has now raised a total of $19.2 million, including $13 million in earlier funding from investors like Avaana Capital, Vertex Ventures, and Chakra Ventures.
The new funding will help Kazam expand its digital EV infrastructure into more markets and support the global shift to cleaner, sustainable transportation.
“Kazam is building the digital infrastructure for EVs at scale, a critical piece in the global shift to clean mobility,” said Akshay Shekhar, CEO and co-founder of Kazam. “IFC’s backing is a strong signal of the role our platform can play in decarbonizing transportation across emerging markets.”
“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.
Kazam, based in Bengaluru, was founded in 2020 by Akshay Shekhar and Vaibhav Tyagi.
The company is building a digital platform that works with all types of devices. It helps EV charging stations, battery-swapping operators, vehicle manufacturers, fleet owners, and power companies manage and monitor their charging systems more easily.
Kazam’s platform now supports over 68,000 EV chargers and has handled more than 5 million charging sessions.
The company’s revenue has grown four times, going from $1.5 million in FY24 to $6 million in FY25. Kazam is now aiming to reach $12 million in revenue and become profitable (EBITDA positive) in the current financial year.
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