ACS Energy raises ₹1.1 crore in Pre-Seed funding led by Inflection Point Ventures

ACS Energy (Ayka Control Systems Pvt. Ltd.) has raised ₹1.1 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). The company plans to use the funds to deploy over 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat and to develop energy management systems for high-rise buildings.

Founded in 2022, ACS Energy is a Mumbai-based startup developing electric vehicle (EV) charging systems that integrate UPI-based digital payments and AI-driven load management tools. Focused on addressing charging infrastructure challenges in high-rise buildings and residential townships, the company has introduced chargers for 2Ws, 3Ws, and 4Ws, along with smart AC chargers and the ACS Pay platform, combining hardware, software, and payment solutions for residential, commercial, and public charging environments.

The company plans to expand its UPI-enabled charging network in Mumbai, Pune, Ahmedabad, Kerala, and Surat. It is also developing AI-based load management systems aimed at improving power distribution and load balancing in urban buildings.

Mitesh Shah, Co-Founder of Inflection Point Ventures, said, “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.”

ACS Energy is led by Founder and CEO Jash Sheth and Co-Founder and COO Mihir Bhanushali. The company aims to simplify EV charging through digital integration and support DISCOMs and housing complexes with data-driven energy management solutions.

Jash Sheth commented, “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.”

India’s EV charging infrastructure market is estimated at around $450 million in 2025 and is projected to reach $13 billion by 2032, with annual growth exceeding 30%. The government’s PM E-DRIVE scheme, with an allocation of ₹10,900 crore, is expected to enhance charging infrastructure in public and residential spaces, offering opportunities for companies in this sector.

Also read: SnapE Cabs raises $2.5 million in bridge round led by Inflection Point Ventures