Electric mobility startup Kazam is gearing up to raise $6 million (approx. INR 51 crore) in a fresh Series B funding round, reinforcing investor confidence in India’s fast-growing EV ecosystem. The round is being led by Vertex Ventures, an existing investor in the startup, and will also see participation from Avaana Capital and Chakra Growth Capital.
According to regulatory filings accessed by Inc42, Kazam has passed a special resolution to approve the issuance of 36,410 Series B compulsory convertible preference shares (CCPS) at a face value of INR 10 each, with an issue price of $165.06 per share. This latest fundraise will help Kazam accelerate its growth plans and scale its operations in the rapidly evolving EV infrastructure space.
Kazam: Powering India’s EV Infrastructure
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam has positioned itself as a key enabler of EV charging infrastructure in India. The startup offers a comprehensive EV charging software platform that combines both hardware and software solutions, allowing businesses and individuals to build, operate, and manage smart and cost-effective EV charging stations.
Kazam’s platform is designed to simplify and standardize EV charging across diverse locations such as residential complexes, commercial buildings, malls, offices, and public charging points. By focusing on affordable and interoperable charging solutions, Kazam aims to bridge the infrastructure gap that continues to hinder EV adoption in the country.
Backing from Leading VCs
This latest round of funding is a strong vote of confidence from prominent investors. Vertex Ventures, which has previously backed Kazam, continues to support the company’s long-term vision. The participation of Avaana Capital — known for its focus on climate-conscious investments — and Chakra Growth Capital further highlights the growing investor interest in clean mobility and sustainable energy solutions.
The fresh capital is expected to be used for product development, expansion of charging networks, and strengthening partnerships with EV manufacturers, fleet operators, and real estate developers. With India targeting the electrification of a significant portion of its transportation by 2030, startups like Kazam are well-positioned to play a pivotal role in supporting this transition.
Scaling for the EV Future
India’s electric vehicle market is witnessing unprecedented growth, driven by government incentives, environmental concerns, and rising fuel prices. However, lack of robust charging infrastructure remains one of the biggest barriers to widespread EV adoption. This is where Kazam’s mission becomes crucial.
By offering plug-and-play charging software, hardware solutions, and real-time energy management systems, Kazam is enabling businesses and communities to embrace EV technology with ease. The startup’s tech-first approach allows for better utilization of power resources, optimized energy usage, and a seamless user experience for EV drivers.
Final Thoughts
Kazam’s $6 Mn Series B fundraise marks a significant milestone in its journey toward becoming a leading player in India’s electric mobility ecosystem. With a focus on innovation, affordability, and sustainability, the startup is paving the way for a cleaner and smarter transportation future.
As India continues to push for mass EV adoption, startups like Kazam are set to play a central role in powering the infrastructure needed to make it a reality.
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