Private Equity

PE-VC Fund Investments

Electric mobility startup Kazam to raise Rs.51-Cr in Series B led by Vertex Ventures

Entrackr   Kazam   Kazam  

Bengaluru-based electric mobility startup Kazam is to raise INR 51 crore (around USD 6 million) in its Series B round, led by Vertex Ventures, with participation from Avaana Capital and Chakra Growth Capital.Vertex Ventures (via IFC VVSEA Co-Invest LP and Vertex Ventures SEA Fund), will jointly invest USD 4.9 million, while Avaana Capital and Chakra will contribute USD 1.01 million and USD 0.9 million, respectively.Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam develops affordable charging networks for two-wheelers, commercial electric vehicles (CEVs), three-wheelers, and city buses.

Between Apr 2023 and Aug 2024, Kazam had attracted about USD 13 M from PE-VC investors.For FY24, Kazam had reported about INR 12 Cr in Operating Income and about INR 10 Cr in Net Loss.