Kazam raises $6.2M led by IFC to scale EV charging infrastructure
The EV charging software platform powers 68,000 chargers and 5M+ sessions — now backed by the World Bank's private arm.
Kazam, the Bengaluru EV charging software platform, raised $6.2 million in a round led by the International Finance Corporation (IFC) — the World Bank Group's private-sector arm — taking its total funding to $19.2 million.
The round
- Lead: IFC
- Participants: Vertex Ventures SEA & India, Avaana Capital
- Milestones claimed: 68,000 chargers onboarded, 5M+ charging sessions, 45 GWh facilitated, 80 cities across 10 countries
- Revenue: $6M in FY25 (4× growth), targeting $12M in FY26
IFC's thesis: charging infrastructure is the binding constraint on EV adoption in emerging markets. Kazam's software-first approach — managing and optimising charging assets for operators — is the kind of infrastructure play IFC funds across developing economies.
The model
Kazam is software + hardware for EV charging and battery-swap operators: a platform that helps fleets and charging networks manage assets, uptime and energy.
Charging infrastructure is where development finance meets EV economics — expect more IFC-style checks in this segment.Advertisement
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