Powering the EV Revolution: Kazam Secures $6.2M Led by IFC

Kazam, a Bengaluru-based electric mobility technology company, has raised USD 6.2 million (approximately ₹51.8 crore) in a funding round led by the International Finance Corporation (IFC), with continued backing from existing investors Vertex Ventures and Avaana Capital. The new capital will be used to scale Kazam’s digital EV infrastructure solutions across multiple markets and accelerate the global transition to sustainable transportation, according to Akshay Shekhar, Founder and CEO.

This round brings Kazam’s total funding to USD 19.2 million (approx. ₹160.5 crore), including USD 13 million in equity raised in previous rounds from Avaana Capital, Vertex Ventures, and Chakra Ventures.

“Kazam is building the digital infrastructure for EVs at scale—an essential component of the clean mobility ecosystem,” said Shekhar. The company reported USD 6 million in revenue for FY25, marking a 4x growth over FY24, and is targeting USD 12 million in revenue for the current financial year.

Kazam’s platform has: Onboarded over 68,000 EV chargers, Facilitated over 5 million charging sessions, Delivered more than 45 GWh of energy, Enabled 25 million electric kilometers in May alone, across 80 cities and 10 countries, Contributed to the avoidance of 46,000 tonnes of CO₂ emissions

The funding reinforces Kazam’s position as a key enabler in the EV ecosystem through its robust digital infrastructure.

News by Rahul Yelligetti.