EV charging platform ACS Energy Raises INR 1.1 Cr in Pre-Seed round Funding

ACS Energy has raised ₹1.1 Crore in pre-seed round led by Inflection Point Ventures. Having introduced universally compatible chargers for two, three and four wheelers, they’ve now rolled out smart AC chargers and the ACS pay platform, claiming to be the first in the country to bring UPI-based payments to EV charging. ACS Energy system uses AI to manage loads and keep payments fast and transparent, making it intuitive and user-friendly.

ACS Energy (Ayka Control Systems Pvt, Ltd.) is a Mumbai-based startup focused on solving the complexities of EV charging infrastructure in high-rise buildings and large residential townships, a segment currently underserved despite growing EV mandates in real estate policies.

Founded in 2022, ACS is led by Jash Sheth (CEO) and Mihir Bhanushali (Co-Founder & COO). Jash previously worked in India’s nuclear power sector and was part of the founding teams at two startups that scaled to multi-million-dollar valuations.

With this new funding, ACS Energy plans to set up more than 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat to make charging more accessible for both homes and businesses. Additionally, a part of the funding will also go into developing advanced energy management systems for high-rise buildings. The company's goal is to bring smarter power distribution and load balancing so urban spaces can use energy more efficiently.

Mitesh Shah, Co-Founder, IPV says, “India’s EV revolution is incomplete without a strong support system fuelling its growth. The transition from fuel-based energy to green energy has to be more accessible and seamless. ACS Energy offers more than just a charger - it is a full hardware and software package that makes charging quick, transparent, and hassle-free. Their UPI-based system means anyone can pay instantly, which makes EV charging as seamless as buying groceries.”

Jash Sheth, Founder & CEO, ACS Energy says, “At a petrol pump, you don’t think twice — you just pay and move. EV charging should be just as simple. With India’s first UPI-enabled charging network, we’re bringing that same ease to the EV ecosystem. Alongside, we’re launching our AI-driven Energy Management Systems to help buildings and DISCOMs manage load intelligently. This fundraise will power our mission to simplify charging and optimize energy use across India.”

Currently active in Mumbai, Pune, Ahmedabad, Kerala, and Surat, ACS Energy is scaling up, focusing on areas where EV adoption is picking up speed. By getting their UPI-enabled chargers out in these cities, it aims to build a network that connects both city dwellers and new EV hubs.

This year alone, India’s EV charging infrastructure market is worth about $450 million. By 2032, it’s expected to top $13 billion, growing at over 30% each year. Globally, the market could hit $400 billion by 2034, fueled by electrification and smart-grid tech. As the government’s PM E-DRIVE scheme - with a massive ₹10,900 crore budget translates into more public and residential charging stations, it’s a huge chance for companies like ACS to jump in on government and utility projects, driving India’s EV future forward.

About Inflection Point Ventures:

Inflection Point Ventures (IPV) is an angel investing platform with over 24,000+ CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has launched a $50 Mn CAT 2 VC fund, Physis Capital, to invest in Pre-Series A to Series B growth-stage start-ups. The fund has already deployed capital in six startups so far, with a few deals in advanced stages of pipeline.