Kazam Secures $6 Million in Series B Round to Boost EV Charging Expansion

Kazam’s funding update is making headlines as the Bengaluru-based electric mobility platform is raising $6 million in a Series B round. According to Entrackr, the funding round is being led by Vertex Ventures, with participation from Avaana Capital and Chakra Growth Capital.

As per Entrackr’s calculations, this round would peg Kazam’s post-money valuation at approximately $51 million.

The funds raised will be used to support business expansion, drive growth initiatives, and cover general corporate needs. Following the allotment, Vertex Ventures and IFC VVSEA Co-Invest will collectively own 22.89% of the company, while Avaana Capital and Chakra Growth Capital will hold 17.02% and 1.51%, respectively.

Kazam gears up for expansion with fresh capital

The upcoming Kazam’s Series B round is expected to be led by institutional investors with a strong interest in India’s clean energy and EV sectors. According to sources close to the company, part of the funds will be used to build more EV charging stations across key urban areas and highways.

Kazam’s board has approved a special resolution to raise new capital by issuing 36,410 Series B compulsory convertible preference shares, each priced at $165.06, according to regulatory filings accessed via the Registrar of Companies (RoC).

As part of this round, Vertex Ventures, through IFC VVSEA Co-Invest LP and Vertex Ventures SEA Fund, will invest a combined $4.9 million. Meanwhile, Avaana Capital and Chakra Growth Capital will contribute $1.01 million and $0.9 million, respectively.

Kazam is an electric vehicle tech startup that was founded to make EV charging accessible and affordable. It operates a software-led platform that connects users with a range of charging options. So far, Kazam has installed over 7,000 charging stations across India, making it a key player among EV charging startups in India.

Focus on building smart and scalable charging solutions

Kazam’s unique approach includes offering both hardware and software solutions to manage EV charging points. The company works with residential complexes, commercial hubs, and public charging stations to provide intelligent charging options. Its software platform allows users to find the nearest charger, monitor usage, and make payments, all through a mobile app.

This focus on tech-driven infrastructure sets Kazam apart from competitors. With Kazam’s funding update, the company plans to accelerate the rollout of these integrated solutions across more cities. It aims to make EV adoption easier not only for individuals but also for fleet operators and businesses looking to shift to electric transport.

Strategic partnerships and long-term goals

As part of its growth plans, Kazam is also exploring partnerships with real estate developers, government bodies, and automakers. These partnerships are intended to expand the reach of Kazam’s charging network and integrate charging facilities within new and existing infrastructure.

The company had raised around $3.6 million across seed and pre-Series A rounds. Investors included early-stage venture capital firms and angel investors who believed in the company’s vision to support India’s EV ecosystem.

Looking ahead, Kazam’s goal is to build a seamless EV charging experience across the country. With increased policy support, growing EV sales, and rising demand for public charging infrastructure, this new funding round is likely to give the company the momentum it needs.

In conclusion, Kazam’s funding update highlights the growing confidence in EV infrastructure startups. As India moves toward cleaner mobility solutions, startups like Kazam are playing a vital role in supporting the ecosystem, one charging station at a time.