Bengaluru-based e-mobility startup Kazam has raised US$6 million in its series B funding round, according to a filing with the Registrar of Companies (RoC).

The round was led by existing investor Vertex Ventures, with participation from Avaana Capital and Chakra Growth Capital.

The filing indicates that IFC VVSEA Co-Invest LP, a co-investment vehicle of the International Finance Corporation (IFC), and Vertex Ventures jointly contributed US$4.9 million.

Avaana Sustainability Fund invested US$1.01 million, while Chakra India Growth Fund invested US$900,000.

Kazam’s board approved the issuance of series B Compulsorily Convertible Preference Shares at a price of US$165.06 per share. The funds will be used for growth, expansion, and general corporate purposes.

Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam provides charging solutions to clients such as BigBasket, Flipkart, and Mahindra Last Mile Mobility.

🔗 Source: YourStory

🧠 Food for thought

1️⃣ Mobility startup funding patterns show maturity and investor selectivity

Kazam’s US$6 million series B raise comes at a time when mobility investments have dramatically evolved, with investors becoming increasingly selective about where they place their capital.

Since 2010, nearly $950 billion has been invested in mobility startups, but the landscape has shifted from broad enthusiasm to strategic selectivity 1.

The average deal size in automotive startups nearly quadrupled from US$10 million in 2010 to US$39 million in 2018, reflecting investors’ preference for proven concepts over speculative bets 2.

Recent funding data shows a significant 68.7% decline in overall mobility tech funding to US$3 billion in Q1 2025, yet the average deal size has increased, illustrating how investors are prioritizing quality over quantity 3.

For startups like Kazam, this means the bar for securing follow-on funding has risen substantially, with investors expecting stronger unit economics and defensible intellectual property before committing capital.

2️⃣ B2B strategies provide more stable growth paths in emerging EV infrastructure market

Kazam’s focus on providing charging solutions to established businesses like BigBasket, Flipkart, and Mahindra Last Mile Mobility represents a strategic approach that aligns with successful mobility startup patterns.