Electric mobility technology startup Kazam raises $6.2 million in a Series B funding round

Kazam, the electric mobility technology startup building digital infrastructure for the EV ecosystem, 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.

The new capital brings Kazam’s total funding to $19.2 million and will support the expansion of its energy transition platform across global markets.

Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam has positioned itself as a core enabler of India’s electric mobility shift. Its platform provides software and hardware solutions for charging and battery-swapping operators, vehicle OEMs, fleets, and utilities—offering a device-agnostic management stack for the increasingly fragmented EV infrastructure landscape.

The startup said that the IFC-led funding will be used to scale its suite of interoperable energy tools and accelerate deployment across emerging markets. Kazam claims to have onboarded over 68,000 charging points, facilitated more than 5 million charging sessions, and enabled over 45 GWh of energy delivery, avoiding approximately 46,000 tons of carbon emissions.

It recorded $6 million in revenue in fiscal 2025, a fourfold increase over the prior year, and is targeting $12 million for FY26. With EBITDA positivity in sight, Kazam is increasingly drawing partnerships from both industry incumbents and fleet clients, including BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.

“EVs are key to accelerating India’s economic growth and energy transition,” said Wendy Werner, IFC’s Country Head for India and Maldives. “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.”

Kazam is also a founding alliance member of the Unified Energy Interface (UEI), a government-backed open protocol modeled after India’s digital payments architecture. The UEI aims to create a plug-and-play standard for energy transactions—paving the way for seamless EV charging and battery swapping across vendors and geographies.

Over the month of May alone, the startup's platform powered 25 million electric kilometers across 80 cities and ten countries. With this latest round of capital, Kazam plans to deepen its technology capabilities and play a more central role in decarbonizing transportation infrastructure across Asia and beyond.