EV Infra Startup Kazam Secures $6.2 Mn from IFC & Others

As India races toward a cleaner and more sustainable future, electric vehicles (EVs) are no longer a distant dream—they're becoming a national imperative. Yet, one of the biggest roadblocks to mass EV adoption remains invisible: the lack of robust, scalable, and interoperable digital infrastructure to power, monitor, and optimize the energy that drives them.

Enter Kazam, a Bengaluru-based energy-tech platform that has quietly emerged as a crucial enabler in India’s EV ecosystem. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is solving the backend complexity of EV charging through a smart, device-agnostic software layer—connecting everything from chargers and fleets to battery swapping networks and power utilities.

And now, the startup is ready to scale that mission even further.

$6.2 Mn Series B Boost from Global Backers

In a significant milestone for the Indian EV landscape, Kazam has raised $6.2 million in Series B funding, led by the International Finance Corporation (IFC), a member of the World Bank Group. The round also saw continued participation from Kazam’s early believers—Vertex Ventures Southeast Asia & India and Avaana Capital.

The funding was first reported by Entrackr and officially confirmed by the company in a recent press release.

This latest infusion brings Kazam’s total capital raised to $19.2 million, of which $13 million is equity raised across previous rounds. Early backers also include Chakra Ventures, showcasing a consistent vote of confidence from the venture ecosystem.

Building the OS for India’s EV Infrastructure

While flashy EV brands grab headlines, Kazam is focused on the less glamorous, but critically important, infrastructure that keeps the EV ecosystem moving. Think of Kazam as building the "operating system" for EV charging and battery management—a unifying platform that connects disparate players in the mobility space.

At its core, Kazam’s software platform allows OEMs, charge point operators, fleet managers, and utilities to manage, monitor, and analyze EV charging infrastructure in real-time. And it’s not just for one brand or hardware—it’s completely device-agnostic, allowing seamless integration across use cases.

From EV startups like Zypp and Ultraviolette to auto giants such as Mahindra, Hero MotoCorp, and Bajaj, Kazam is powering the digital backbone of India’s mobility transformation. Even e-grocery platform BigBasket is leveraging Kazam’s tools to manage its EV delivery fleets.

Numbers that Signal Growth – And Confidence

Kazam’s impact isn’t just theoretical. The startup claims to have onboarded over 68,000 chargers across the country and facilitated more than 5 million charging sessions—a metric that places it among the frontrunners in EV energy tech.

Its business model, too, seems to be firing on all cylinders.

In FY24, Kazam clocked $1.5 million in revenue. In FY25, that number jumped 4X to $6 million—a staggering leap in just one year. What’s more impressive? The startup is now targeting $12 million in revenue and is eyeing EBITDA positivity within this fiscal year, a rare feat in the still-nascent EV sector.

What’s Next? Global Capital, Local Expansion

With IFC stepping in, this round doesn’t just bring in fresh capital—it brings global validation. The International Finance Corporation’s involvement signals a strong endorsement of Kazam’s vision to lead the energy transition in emerging markets like India.

In the coming months, Kazam plans to use the funding to deepen its market presence, expand its technology suite, and scale partnerships with OEMs, fleet operators, and energy distribution players. Its focus remains firmly on building a scalable infrastructure that can adapt to India’s rapidly evolving EV roadmap.

Why This Matters for India’s Startup and Climate Goals

The EV sector in India is at a tipping point. While consumer awareness is growing and the government is pushing incentives, the backend infrastructure—especially software-driven solutions—is still catching up. Players like Kazam are uniquely positioned to bridge this gap by enabling a smarter, more connected EV ecosystem.

Moreover, this funding round comes at a time when sustainability-focused startups are drawing global investor interest, not just for their impact but for their economic potential. Kazam is a clear case of how Indian startups are blending climate-tech innovation with commercial viability.

Kazam's rise reflects a deeper shift in India’s startup narrative—from building consumer-facing tech to building critical infrastructure for national goals like clean mobility.

As India sets its sights on net-zero targets and prepares for a green energy future, startups like Kazam aren’t just participating—they’re laying the digital foundation. With its latest fundraise, Kazam is more than just charged up—it’s powering ahead.