Electric mobility startup Kazam Energy is set to raise USD 6 million (~INR 51 crore) in a fresh Series B funding round, marking a significant milestone in its mission to build a smart and scalable EV charging infrastructure across India. The round is being led by Vertex Ventures, with continued support from Avaana Capital and Chakra Growth Capital.
According to regulatory filings, Kazam’s board approved a special resolution to issue 36,410 Series B Compulsorily Convertible Preference Shares (CCPS) at an issue price of USD 165.06 (~INR 14,129) per share.
The investment breakdown is as follows:
- Vertex Ventures SEA Fund and IFC VVSEA Co-Invest LP (a co-investment entity of the International Finance Corporation) will jointly infuse USD 4.9 million (~INR 41.95 crore)
- Avaana Capital is contributing USD 1.01 million (~INR 8.64 crore)
- Chakra Growth Capital is investing USD 0.9 million (~INR 7.70 crore)

Post this infusion, shareholding will reflect:
- 22.88% equity held collectively by Vertex Ventures and IFC VVSEA Co-Invest
- 17.02% stake by Avaana Capital
- 1.51% ownership by Chakra Growth Capital
Capital Deployment and Strategic Vision
The newly raised capital will be deployed towards business expansion, technology advancement, and general corporate purposes. The Series B raise builds on Kazam’s previous USD 8 million (~INR 68.50 crore) Series A3 round in August 2024, also led by Vertex Ventures alongside Avaana Capital and Alteria Capital.
As India accelerates its EV transition, Kazam has positioned itself at the core of this movement. The company offers both hardware and software solutions, delivering an integrated EV charging ecosystem designed to serve a broad spectrum of electric vehicles—from two-wheelers and three-wheelers to commercial EVs and city buses.
Impressive Growth Metrics
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam has built a robust platform that supports:
- Over 68,000 EV chargers onboarded
- More than 5 million charging sessions managed
- Delivery of 45 GWh of energy
- 46,000 tonnes of CO₂ emissions averted
- Service reach to nearly 1,70,000 users
Kazam also claims to power more than 25,000 charging points directly and collaborates with high-profile partners such as BigBasket, Flipkart, Zypp, Mahindra Last Mile Mobility, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.
Financial Performance and Market Position
While FY25 results are yet to be disclosed, data from FY24 reveals that Kazam’s revenue surged 3.3x to INR 12.19 crore, though it reported losses of INR 10.2 crore. Despite the widening losses, the startup has demonstrated strong revenue growth, underlining increasing market demand and operational scaling.
The post-money valuation is estimated to be around USD 51 million (~INR 436 crore), reflecting investor confidence in the company’s vision and scalability. Kazam competes with players such as Bolt.Earth and Battery Smart, operating in one of India’s most dynamic and high-growth sectors—electric mobility infrastructure.

Conclusion
Kazam Series B funding not only strengthening its capital base but also deepening its industry foothold in a fast-evolving mobility landscape. The funding signals growing investor appetite for sustainable infrastructure and highlights Kazam’s pivotal role in building the digital and physical backbone of India’s EV future.
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