Kazam, a Bengaluru-based electric mobility startup, has raised $6.2 million in Series B funding from the International Finance Corporation (IFC) to expand its electric vehicle (EV) charging infrastructure and accelerate the energy transition through smarter charging solutions.

The Series B round also witnessed support from Vertex Ventures and Avaana Capital. This move underscores Kazam’s critical role in accelerating the energy transition through digital-first solutions.

Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is building a device-agnostic EV charging infrastructure platform tailored for charging operators, battery-swapping networks, OEMs, utilities, and fleet operators. With this latest round, Kazam has raised a total of $19.2 million, cementing its place as a key player in the electric mobility ecosystem.

Over the past year, Kazam scaled rapidly, onboarding more than 68,000 chargers and facilitating over 5 million charging sessions. These efforts have delivered 45 gigawatt-hours (GWh) of clean energy while helping to avoid 46,000 tons of carbon emissions, demonstrating a tangible impact in the ongoing energy transition.

From India to the World

Kazam is now expanding globally, with active deployment in 80 cities across 10 countries. In May alone, its platform powered 25 million electric kilometers, demonstrating its readiness to scale. The new capital injection from IFC will drive further growth, particularly in Asia’s emerging markets, where infrastructure gaps continue to pose a challenge to the adoption of EV charging infrastructure.

Furthermore, Kazam is part of the founding alliance behind the Unified Energy Interface (UEI), an open protocol inspired by India’s digital payments model. The UEI aims to bring standardization and interoperability to electric mobility transactions, making plug-and-play charging a global reality.

In FY25, Kazam reported $6 million in revenue, marking a 4X jump from the previous year. The company targets $12 million for FY26 and is inching toward EBITDA profitability.

This financial momentum, along with key partnerships with BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette, reflects its growing reputation among fleet operators and original equipment manufacturers (OEMs) in the electric mobility domain.

Unlike many startups focused solely on hardware, Kazam’s EV charging infrastructure solutions blend software, analytics, and operational tools, enabling intelligent, scalable, and sustainable charging ecosystems.

The Road Ahead for Kazam

Looking forward, Kazam plans to enhance its energy analytics stack and expand its suite of interoperable energy tools. This will enable a seamless experience across fragmented infrastructure, supporting the global shift toward energy transition and electric mobility.

With its robust technology backbone, deep industry alliances, and fresh funding led by IFC, Kazam is well-positioned to redefine the standards for electric vehicle (EV) adoption and become a global leader in sustainable mobility.

“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.”

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