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Kazam Raises $6.2 Million in Series B Round Led by IFC to Expand EV Charging Platform
Jun 24, 2025
EV charging software platform Kazam has secured $6.2 million in a Series B funding round led by the International Finance Corporation (IFC), with continued participation from existing investors Vertex Ventures SEA and India, and Avaana Capital Advisors. This funding raises Kazam’s total capital to $19.2 million, including $13 million from earlier rounds.
Kazam plans to use the fresh funds to scale its energy transition solutions across new markets. The platform provides device-agnostic software for EV chargers, battery-swapping operators, fleet managers, and grid companies. With over 68,000 chargers onboarded, Kazam has enabled more than 5 million charging sessions and facilitated 45 GWh of energy, powering 25 million electric kilometers across 80 cities in 10 countries last month.
The funding comes amid India’s growing EV adoption. EV sales reached 514,198 units in Q1 2025, marking a 3% year-over-year increase. Registered EVs in India now exceed 5.91 million, accounting for 8% of total automobile sales. The government continues to push EV deployment through the Rs109 billion PM E-DRIVE Program, which includes incentives and infrastructure support. Kazam’s platform aligns with these goals, providing critical digital infrastructure for India's accelerating EV transition.