EV charging startup Kazam raises $5-M from Vertex Ventures, others

Bengaluru-based electric mobility startup Kazam has raised USD 5 million (INR 42.5 crore) led by Vertex Ventures and Licious with participation from Avaana Capital and Chakra Growth Fund.Vertex Ventures invested INR 30 crore in the round. Following the investment, Vertex Ventures will own a 16.45% stake, Avaana will own a 16.45% stake, while Chakra Growth Fund will own 0.63% stake.Kazam last raised USD 3.6 million led by Avaana Climate Fund in May 2023 with participation from Third Derivative and existing investors Inflection Point Ventures and We Founder Circle.Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, the startup primarily offers EV charging. On the software side, it offers fleet management software, charging management solutions, battery swapping management, among others.