Kazam raises USD 6.2 mn in Series B from IFC, others

New Delhi, Jun 23 (PTI) EV energy-tech company Kazam has raised USD 6.2 million (over Rs 53 crore) in Series B funding from the International Finance Corporation (IFC) and existing investors Vertex Ventures SEA & India and Avaana Capital Advisors, a statement said on Monday.

The investment will fuel Kazam's expansion across markets with its energy transition tools to accelerate the adoption of sustainable mobility.

This latest round brings Bengaluru-headquartered Kazam's total capital raised to USD 19.2 million, including USD 13 million in equity funding in past rounds led by Avaana Capital Advisors, Vertex Ventures SEA & India, and Chakra Ventures.

"Kazam is building the digital infrastructure for EVs at scale, something that's critical as the world transitions to clean mobility," Akshay Shekhar, CEO and Co-Founder of Kazam, said.

*** Viraj Russell Mehta sells Kopran shares for over Rs 7 crore * Viraj Russell Mehta on Monday sold shares of pharmaceutical company Kopran for Rs 7 crore through an open market transaction.

Mehta is the son of Russell Mehta, who heads Rosy Blue India, part of the Rosy Blue Group -- one of the world's largest diamond jewellery companies.

Following the share sale, the scrip of Kopran fell 5.52 per cent to close at Rs 176.57 apiece on the National Stock Exchange (NSE).

According to the bulk deal data on the NSE, Viraj Russell Mehta offloaded 4 lakh shares or 0.82 per cent stake in Mumbai-based Kopran.

The transaction valued around Rs 7.18 crore, was executed at an average price of Rs 179.60 apiece.

After the share sale, Viraj Mehta's holding in Kopran dipped to 1.03 per cent from 1.85 per cent.

Details of the buyers of Kopran's shares could not be ascertained on the NSE. PTI KKS HG HG SHW