In a bold step toward transforming India’s EV infrastructure, Bengaluru-based energy-tech startup Kazam has raised $6.2 million in Series B funding, with a powerful endorsement from the International Finance Corporation (IFC), alongside continued support from Vertex Ventures Southeast Asia & India and Avaana Capital.
This latest infusion brings Kazam’s total funding to $19.2 million, reinforcing investor confidence in the startup’s vision of a cleaner, smarter mobility future. With earlier investments from Chakra Ventures, the company has raised $13 million in equity over previous rounds.
Powering India’s EV Ecosystem
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam isn’t just another name in India’s EV boom. The company is building a device-agnostic digital infrastructure to manage EV charging and battery-swapping. From OEMs to fleet operators, utilities to charging providers, Kazam’s platform is emerging as the brain behind India’s sustainable mobility push.
And the numbers speak volumes. Kazam has onboarded over 68,000 chargers, facilitated over 5 million charging sessions, and seen 4X revenue growth—from $1.5M in FY24 to $6M in FY25. With sights set on $12 million revenue and EBITDA positivity this year, the startup is charging ahead—literally and figuratively.
Trusted by Industry Giants
In a space crowded with players, Kazam’s platform has become the go-to choice for companies like BigBasket, Zypp Electric, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette—a testament to its credibility and scale.
“Kazam is building the digital nervous system of EV energy in India,” said a person close to the deal. “What AWS is to cloud, Kazam is to electric mobility infrastructure.”
The new capital, according to the company, will help expand its energy-transition tools across more markets—supporting India’s journey toward sustainable urban transportation.
