Kazam Raises $6.2M Series B Led by IFC to Expand Global EV Infrastructure

Kazam, a Bengaluru-based electric mobility technology startup founded in 2020, has raised $6.2 million in a Series B funding round led by the International Finance Corporation (IFC), with participation from existing investors Vertex Ventures and Avaana Capital. This latest funding brings Kazam's total capital raised to $19.2 million and will support the expansion of its device-agnostic digital infrastructure platform for EV charging and battery swapping across global markets. Kazam's platform connects charging operators, vehicle OEMs, fleets, and utilities, enabling real-time management and analysis of charging assets, and has onboarded over 68,000 chargers, facilitated more than 5 million charging sessions, and enabled over 45 GWh of energy delivery, avoiding approximately 46,000 tons of carbon emissions. The company reported a fourfold revenue increase to $6 million in fiscal 2025 and aims to double that to $12 million in FY26, with EBITDA positivity in sight. IFC emphasized Kazam's role in accelerating India's economic growth and energy transition by scaling EV infrastructure access, while Kazam's CEO Akshay Shekhar highlighted the platform's critical role in decarbonizing transportation across emerging markets. Major industry players such as BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette have partnered with Kazam, underscoring its importance in building the digital backbone for sustainable mobility.