Inflection Point Ventures led the INR 1.1 crore pre-seed round for ACS Energy. The startup is said to be first in the nation to offer UPI-based payments for EV charging after introducing universally compatible chargers for two, three, and four-wheelers, smart AC chargers, and the ACS pay platform. The ACS Energy system is easy and user-friendly since it employs AI to regulate loads and maintain quick and transparent payments.
The goal of Mumbai-based startup ACS Energy (Ayka Control Systems Pvt, Ltd.) is to address the challenges of EV charging infrastructure in big residential townships and high-rise buildings, a market that is currently underserved despite increasing EV mandates in real estate regulations.
Since its founding in 2022, ACS has developed the first UPI-capable EV chargers in India, significantly streamlining the user experience and establishing a new benchmark for interoperable, digital-first charging. The company is about to enter a phase of fast expansion with a robust and proven product range in the UPI area.
Jash and Mihir are in charge of ACS. Jash was a member of the founding teams of two firms that grew to multi-million dollar valuations and had previously worked in India’s nuclear power industry.
In order to increase charging accessibility for both homes and businesses, ACS Energy intends to install more than 5,000 UPI-enabled EV charging stations throughout Maharashtra and Gujarat with the help of this additional investment.
A portion of the funds will also be used to create cutting-edge energy management systems for tall buildings. The organization wants to improve load balancing and electricity distribution so that metropolitan areas can use energy more effectively.
Jash Sheth, the CEO of ACS Energy, and Mihir Bhanushali, the co-founder and COO, are reinventing how India charges up in addition to creating technology. With their skills in technology and engineering, they are advocating for intelligent and user-friendly infrastructure that makes sustainable mobility seem less like a chore and more like the obvious option.
With operations in Mumbai, Pune, Ahmedabad, Kerala, and Surat, ACS Energy is expanding quickly, concentrating on regions where EV adoption is accelerating. It hopes to establish a strong network that links city people with future EV hubs by distributing UPI-enabled chargers in these cities.
Market For EV Charging Infrastructure in India
India’s market for EV charging infrastructure is estimated to be worth $450 million this year alone. It is projected to reach $13 billion by 2032, increasing at a rate of more than 30% annually.
The market may reach $400 billion globally by 2034 thanks to smart-grid technology and electrification.
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.
Leadership Comments
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.”
