Indian EV charging startup Kazam posts $4.4m revenue in FY25

Kazam, an EV charging and energy-management platform based in Bengaluru, reported revenue of 40 crore rupee (US$4.4 million) for FY25, up 3.5x year-on-year.

The company said it now manages over 120,000 chargers in India and enabled more than 7 million charging sessions, with a 76% rise in charger integrations and a 60% rise in energy sessions over the past six months.

Kazam said its platform currently handles over 9,000 MWh of energy transactions monthly, a 60% rise since June 2025, and supports charging across homes, workplaces, and public networks.

The company partners with more than 14 OEMs, including Maruti Suzuki, and works with regional DISCOMs, bus depots, and fleet operators.

Kazam completed its series B round in June 2025, raising a total of US$19.2 million to date.

The firm plans to use new funding for R&D, expanding its network, and building ecosystem partnerships.

🔗 Source: Kazam

🧠 Food for thought

Implications, context, and why it matters.

Revenue growth outpaces energy metrics; timeframes differ

Kazam booked a 3.5x jump to ₹40 crore ($4.8M) in FY25, while energy transactions rose 60% to 9,000 MWh [megawatt-hours] a month and sessions crossed 7 million only since June 2025. The gap hints at pricing gains, software fees, or one-time integrations.
MCA records for KAZAM EV TECH PRIVATE LIMITED list authorized capital of ₹60 lakhs (₹6 million) and paid-up capital of ₹28.72 lakhs (₹2.872 million) as of Mar 31, 2024 1. This contrasts with US$19.2M raised at the group level and suggests funds at a parent or overseas entity or non-common equity; the filings predate the June 2025 Series B.
With 270 employees 2 for 120,000 chargers, the platform looks lean. Missing gross margin or hardware versus software splits keeps efficiency unclear.

Payments and roaming can tap India’s fragmented charging

India has 40-plus charge point operators with separate apps and payment flows 3. Roaming lifts utilization above 20% from single digits and lets drivers use one account. Fintechs that build UPI (Unified Payments Interface) clearing or OCPI (Open Charge Point Interface) settlement can serve as the Visa network and earn fees.
Kazam moves 9,000 MWh monthly and works with 14 OEMs (original equipment manufacturers), including Maruti Suzuki. That base suits billing SaaS (Software-as-a-Service) for fleet invoicing, dynamic pricing, or split settlement to site hosts, as OCPP (Open Charge Point Protocol) and OCPI in India’s 2023 charging guidelines 3 standardize integration points.
B2B (business-to-business) tools for small and mid-sized CPOs (charge point operators) can handle payment reconciliation, GST (Goods and Services Tax) compliance, or interoperability. That helps operators monetize idle capacity without building in-house stacks.