Kazam Raises $6.2M Series B to Accelerate Global EV Charging Infrastructure

Kazam, India’s energy-tech startup in the electric vehicle (EV) space, has raised $6.2 million in Series B funding, led by the International Finance Corporation (IFC), with participation from Vertex Ventures SEA & India and Avaana Capital Advisors. The funding marks a major milestone in Kazam’s mission to digitize and scale global EV charging infrastructure, especially across emerging markets.

This latest round brings Kazam’s total capital raised to $19.2 million, with $13 million coming from earlier equity investments by the same consortium of backers, including Chakra Ventures.

IFC Backs EV Future

“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 of Kazam. “IFC’s backing signals confidence in our platform’s potential to decarbonize transport, especially across emerging markets.”

Wendy Werner, Country Head of India and Maldives at IFC, echoed the sentiment. “EVs are key to accelerating India’s economic growth and energy transition. Our investment in Kazam aligns with IFC’s strategy to scale the EV ecosystem and expand access to charging infrastructure.”

Surging Growth and Global Impact

Kazam has grown at an exponential pace, quadrupling revenues from $1.5 million in FY24 to $6 million in FY25. The company projects $12 million in revenue for this fiscal year, with profitability (EBITDA positivity) within reach.

Currently, Kazam manages a staggering 68,000+ charging points, has powered over 5 million charging sessions, and facilitated 45 GWh of energy delivery, effectively avoiding 46,000 tons of CO₂ emissions. In May alone, Kazam enabled 25 million electric kilometers across 80 cities and 10 countries, underlining its expanding global footprint.

Scalable Tech for a Portless Future

Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam offers device-agnostic software and hardware solutions for charging station operators, EV OEMs, battery-swapping networks, fleet operators, and utilities. Its intelligent platform allows seamless management, analytics, and control of charging infrastructure, tackling the widespread issue of EV range anxiety.

As a Founding Alliance Member of the Unified Energy Interface (UEI)—India’s UPI-like framework for the energy sector—Kazam is actively shaping the digital energy ecosystem alongside government and private partners.

With fresh capital and robust investor confidence, Kazam plans to deepen its global expansion, enhance its technology stack, and forge strategic partnerships to make EV adoption not just viable but inevitable. The startup is poised to play a central role in India’s and the world’s clean energy future.