Kazam Raises ₹51 Cr in Series B to Power the Future of Smart EV Charging

Kazam, a Bengaluru-based electric mobility startup building India’s smart EV charging infrastructure, has raised ₹51 Cr (~$6M) in Series B funding. The round is led by Vertex Ventures SE Asia & India, with participation from Avaana Capital and Chakra Growth Capital.

According to regulatory filings sourced from the RoC, the company issued 36,410 Series B CCPS at $165.06/share, valuing Kazam at $51 million post-allotment.

Breakdown of the round:

> $4.9M from Vertex Ventures SE Asia & India and IFC - International Finance Corporation VVSEA Co-Invest LP

> $1.01M from Avaana Capital

> $0.9M from Chakra Growth Capital

The funds will be deployed toward scaling operations, platform expansion, and strategic growth initiatives. Post-raise, Vertex Ventures and IFC hold a 22.89% stake, Avaana holds 17.02%, and Chakra Growth Capital owns 1.51%.

Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is a full-stack EV charging software platform with 25,000+ charging points deployed. Its infrastructure powers fleets and vehicles from partners like bigbasket, Zypp Electric, Mahindra Group, Bajaj Auto Ltd, Ather Energy, Hero MotoCorp, TVS Motor Company, and Ultraviolette Automotive — covering 2-wheelers to city buses.

In FY24, Kazam’s operating revenue surged 3.3X to ₹12.19 Cr, while losses stood at ₹10.2 Cr — a scale-first trajectory consistent with infra-led startups building for India’s EV backbone.

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