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Electric mobility technology startup Kazam raises $6.2 million in a Series B funding round
- Kazam, an electric mobility technology startup, has raised $6.2 million in a Series B funding round led by the International Finance Corporation (IFC).
- The funding round also saw participation from existing investors Vertex Ventures and Avaana Capital, bringing Kazam's total funding to $19.2 million.
- The new capital will support Kazam in expanding its energy transition platform across global markets.
- Founded in 2020, Kazam offers software and hardware solutions for charging and battery-swapping operators, vehicle OEMs, fleets, and utilities.
- Kazam aims to provide a device-agnostic management stack for the EV infrastructure landscape.
- The startup plans to scale its suite of interoperable energy tools and accelerate deployment in emerging markets with the funding received.
- Kazam has facilitated over 5 million charging sessions, enabling over 45 GWh of energy delivery and avoiding approximately 46,000 tons of carbon emissions.
- In fiscal 2025, the startup recorded $6 million in revenue, a fourfold increase over the previous year, with a target of $12 million for FY26.
- Kazam is increasingly forming partnerships with industry incumbents and fleet clients, including BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.
- Kazam is focused on accelerating India's economic growth and energy transition through EVs, supported by IFC's investment and participation in the Unified Energy Interface (UEI) alliance.
- The UEI initiative aims to create a standard for energy transactions, facilitating seamless EV charging and battery swapping.
- Kazam plans to enhance its technology capabilities and play a crucial role in decarbonizing transportation infrastructure across Asia and beyond with the latest funding round.
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