Latest news with #Kazam
Economic Times
6 hours ago
- Automotive
- Economic Times
EV infrastructure startup Kazam raises $6.2 million in round led by International Finance Corporation
Electric mobility infrastructure startup Kazam has raised $6.2 million in a funding round led by the International Finance Corporation (IFC), the private sector investment arm of the World Bank investors, Vertex Ventures Southeast Asia & India and Avaana Capital Advisors, also participated in the latest infusion takes Kazam's total funding to $19.2 million, including $13 million from previous equity which provides software and hardware solutions for electric vehicle (EV) charging and battery swapping operators, plans to use the fresh funds to expand its footprint in domestic and international markets.'Kazam is building the digital infrastructure for EVs at scale, something that's critical as the world transitions to clean mobility,' said Akshay Shekhar, CEO and cofounder of Kazam. 'IFC's backing signals confidence in our platform's potential to decarbonise transport, especially across emerging markets.' 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 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.
Time of India
8 hours ago
- Automotive
- Time of India
EV energy tech startup Kazam raises $6.2 million from IFC, Vertex Ventures, Avaana Capital Advisors
EV energy-tech startup Kazam has secured $6.2 million in funding from the International Finance Corporation (IFC), along with existing investors Vertex Ventures SEA & India and Avaana Capital Advisors. The Bangalore-based company said that these funds will support Kazam's growth as it rolls out its energy transition tools to boost the shift towards sustainable mobility . This new round takes the total capital raised by the company to $19.2 million. Previous equity rounds, led by Avaana Capital Advisors, Vertex Ventures SEA & India, and Chakra Ventures, brought in $13 million. 'Kazam is building the digital infrastructure for EVs at scale, something that's critical as the world transitions to clean mobility,' said Akshay Shekhar, CEO and cofounder of Kazam. 'IFC's backing signals confidence in our platform's potential to decarbonise transport, especially across emerging markets.' The company has seen strong growth, with revenues jumping from $1.5 million in FY24 to $6 million in FY25, a fourfold increase. Kazam is aiming to double that to $12 million this fiscal and expects to reach earnings before interest, taxes, depreciation, and amortisation (Ebitda) profitability soon. '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. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam provides device-agnostic solutions to EV charging and battery swapping operators, vehicle OEMs, fleet operators, and electricity grid companies.
Time of India
a day ago
- Automotive
- Time of India
Kazam raises $6.2 million to expand global EV infra
Bengaluru: Kazam, an electric mobility technology company based in Bengaluru, announced a $6.2 million Series B fundraise led by the International Finance Corporation (IFC), with participation from existing investors Vertex Ventures and Avaana Capital. The fresh capital will help Kazam expand its digital EV infrastructure offerings across markets and support the global shift towards sustainable transportation, founder and CEO Akshay Shekhar told TOI. The Series B round brings Kazam's total funding to $19.2 million, including $13 million in equity financing from earlier rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. 'Kazam is building the digital infrastructure for EVs at scale, a critical piece in the global shift to clean mobility,' said Akshay Shekhar, CEO and cofounder, Kazam. 'IFC's backing is a strong signal of the role our platform can play in decarbonizing transportation across emerging markets.' IFC emphasised the role this investment will play in making charging infrastructure more accessible across the country. 'EVs are key to accelerating India's economic growth and energy transition. Kazam's approach will help scale the EV ecosystem and expand access to charging infrastructure, supporting the broader adoption of clean transportation across the nation,' said Wendy Werner, IFC's Country Head for India and Maldives. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like KAVA בכנרת - לחיות מול הפריים המושלם - החל הפריסייל במחירי השקה מיוחדים! Kava בכנרת Undo Avaana Capital's Swapna Gupta added, 'Kazam is building the energy gateway for mobility. Its approach to creating a scalable, interoperable digital ecosystem for the EV sector is pivotal for global adoption. As EVs evolve, Kazam will play a pivotal role in shaping the digital backbone of the future of transportation.' Kazam has witnessed significant growth, achieving revenues of $6 million in FY25, four times its FY24 revenues, and is targeting $12 million this fiscal year, with Ebitda positivity in sight. The company has onboarded over 68,000 chargers, enabled more than 5 million charging sessions, and facilitated over 45 GWh of energy, avoiding an estimated 46,000 tons of carbon dioxide. Over the month of May, the Kazam platform powered 25 million electric kilometers across 80 cities and ten countries. Founded in 2020, Kazam provides device-agnostic solutions for charging and battery swapping operators, OEMs, and fleet operators. Its software and hardware offerings enable seamless EV charging, making electric transportation more accessible across India. Kazam is also a founding alliance member of the Unified Energy Interface (UEI), an open protocol akin to UPI for energy. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
a day ago
- Automotive
- Time of India
Kazam raises $6.2 million to expand EV infrastructure
Bengaluru: Bengaluru-based electric mobility technology company Kazam has raised $6.2 million led by the International Finance Corporation (IFC), with participation from existing investors Vertex Ventures and Avaana Capital. The fresh capital will help Kazam expand its digital EV infrastructure offerings across markets and support the global shift towards sustainable transportation, founder and CEO Akshay Shekhar told TOI. The latest round brings Kazam's total funding to $19.2 million, including $13 million in equity financing from earlier rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. "Kazam is building the digital infrastructure for EVs at scale, a critical piece in the global shift to clean mobility," said Akshay Shekhar, CEO and Cofounder, Kazam. Kazam witnessed significant growth, achieving revenues of $6 million in FY25, four times its FY24 revenues, and is targeting $12 million this fiscal year. The company onboarded over 68,000 chargers, enabled more than 5 million charging sessions, and facilitated over 45 GWh of energy, avoiding an estimated 46,000 tons of carbon dioxide. Over May, the Kazam platform powered 25 million electric kilometres across 80 cities and ten countries. Founded in 2020, Kazam provides device-agnostic solutions for charging and battery swapping operators, OEMs, and fleet operators.
