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Mumbai-based startup ACS Energy (Ayka Control Systems Pvt. Ltd.) has secured ₹1.1 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). The company is working towards making India’s EV charging ecosystem smarter, simpler, and more user-friendly.
ACS Energy has introduced universally compatible chargers for 2-, 3- and 4-wheelers, and has now launched smart AC chargers along with its ACS Pay platform making it the first EV charging company in India to offer UPI-based payment for charging. This allows users to pay for EV charging instantly, just like making a regular UPI payment at a grocery store.
The company focuses on solving EV charging challenges in high-rise buildings and large residential townships, a segment that remains underserved despite rising EV adoption. Founded in 2022, ACS Energy has also developed AI-driven load management and transparent payment systems to make EV charging more efficient.
ACS Energy is led by Jash Sheth (CEO) and Mihir Bhanushali (COO), both experts in technology and engineering. Jash previously worked in India’s nuclear power sector and has been part of founding teams at two successful startups.
With the new funding, the company plans to install more than 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat. ACS Energy will also develop advanced Energy Management Systems for high-rise buildings, enabling smarter power distribution and load balancing.
IPV Co-Founder Mitesh Shah said, “India’s EV revolution can only be successful if charging becomes simple and accessible for everyone. ACS Energy offers more than a charger—it’s a complete hardware and software solution that makes charging seamless and hassle-free.”
ACS Energy is currently active in Mumbai, Pune, Ahmedabad, Kerala, and Surat, and is expanding rapidly to strengthen its EV charging network in high-growth areas.
India’s EV charging market is valued at $450 million this year and is expected to grow to $13 billion by 2032. Under the government’s PM E-DRIVE scheme with a budget of 10,900 crore, large-scale deployment of charging stations will create major opportunities for companies like ACS Energy.
ACS Energy aims to make EV charging as simple as refueling at a petrol pump, while enabling smarter and more efficient energy use across urban India.
