In a significant boost to India's electric vehicle (EV) ecosystem, Bengaluru-based startup Kazam has raised $6.2 million in a Series B funding round led by the International Finance Corporation (IFC). The investment also saw participation from existing investors such as Vertex Ventures and Avaana Capital, signaling strong confidence in Kazam's mission to revolutionize EV infrastructure.
Kazam, an energy-tech platform, is focused on building the digital backbone for India's EV ecosystem. The company has already onboarded over 68,000 chargers and facilitated more than 5 million charging sessions, making it a key player in the rapidly growing sustainable mobility sector.
The fresh capital will be utilized to expand Kazam's market presence both domestically and globally. The startup aims to enhance its digital energy-transition tools, further accelerating the shift toward sustainable transportation solutions in India and beyond.
Founded with the vision of creating a seamless EV charging network, Kazam offers an agnostic software platform that supports smart and affordable charging solutions. This latest funding round is expected to help the company scale its operations and strengthen its position as a leader in EV infrastructure.
The involvement of IFC, a member of the World Bank Group, underscores the global importance of advancing green mobility. Kazam's efforts align with India's ambitious targets for reducing carbon emissions and promoting electric vehicle adoption.
As the EV market in India continues to grow, Kazam's innovative approach to digital infrastructure could play a pivotal role in addressing challenges like charger accessibility and efficiency. This funding marks a significant milestone in the startup's journey to power the future of mobility.
Alfred Lee
