EV infrastructure startup Kazam raises $6.2 million in round led by International Finance Corporation
Founded in 2020 by Shekhar and Vaibhav Tyagi, Kazam operates a platform that helps EV ecosystem players manage and optimise charging assets. It claims to have enabled over five million charging sessions and onboarded 68,000 chargers to date, facilitating 45 gigawatt hours (GWh) of energy and helping avoid 46,000 tonnes of carbon emissions.
The Bengaluru-based company saw its revenue jump fourfold from $1.5 million in FY24 to $6 million in FY25 and is targeting $12 million in revenue this fiscal.Kazam's platform is live in 80 cities across 10 countries and recently helped facilitate 25 million electric kilometres in a single month, according to the company.
The investment aligns with IFC's strategy to support the growth of electric mobility in developing economies, especially in areas with limited EV charging infrastructure. 'EVs are key to accelerating India's economic growth and energy transition. However, limited charging infrastructure remains a challenge. Our investment in Kazam aligns with IFC's strategy to catalyse the growth of the electric mobility ecosystem,' said Wendy Werner, country head, India and Maldives, IFC.
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