Electric mobility startup Kazam has raised $6 million in a fresh funding round led by Vertex Ventures, with participation from Avaana Capital and Chakra Growth Capital. The funding will support the company’s growth plans and accelerate the development of its EV fleet management and charging technology platform.
As per filings accessed by Inc42, Kazam approved the issuance of 36,410 Series B compulsorily convertible preference shares at an issue price of $165.06 per share. Vertex Ventures, through its SEA Fund and IFC VVSEA Co-Invest LP, is contributing $4.9 million, while Avaana and Chakra are investing $1.01 million and $0.9 million, respectively.
Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi , Kazam operates a robust EV charging software platform, offering integrated hardware and software solutions. The startup manages fleet operations, charging infrastructure, battery swapping, and analytics, tailored for 2-wheelers, 3-wheelers, buses, and commercial EVs.
To date, Kazam has deployed 68,000+ chargers, facilitated 5 million+ charging sessions, delivered 45 GWh of energy, and helped reduce 46,000 tonnes of CO₂ emissions. Its partners include industry leaders like BigBasket, Zypp, Mahindra, Ather, and Hero MotoCorp.
This round follows Kazam’s $8M Series A3 in 2023 and signals its deepening footprint in India’s fast-evolving EV ecosystem.