ACS Energy (Ayka Control Systems Pvt. Ltd), India’s first EV charging platform with built-in UPI integration, has raised ₹1.1 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). This investment will accelerate the company’s plan to deploy over 5,000 UPI-enabled charging stations across Maharashtra and Gujarat, while also developing advanced energy management systems for high-rise buildings.
Revolutionizing India’s EV Charging Landscape
ACS Energy is pioneering a seamless and interoperable EV charging ecosystem by combining hardware innovation with software intelligence. The company has introduced universally compatible chargers for two-, three-, and four-wheelers, alongside its proprietary ACS Pay platform, making it the first in India to offer UPI-based EV charging payments. Using AI-powered load management, the platform ensures fast, transparent, and efficient charging experiences tailored for modern urban environments.
Focused on Solving Urban Infrastructure Challenges
Headquartered in Mumbai, ACS Energy addresses one of India’s most pressing EV challenges—charging infrastructure in high-rise buildings and large residential townships. With EV adoption increasing and real estate policies mandating sustainable mobility infrastructure, ACS is bridging the gap with intelligent, scalable solutions that blend digital payments, load management, and universal compatibility.
Founders and Vision
Founded in 2022 by Jash Sheth (CEO) and Mihir Bhanushali (Co-Founder & COO), ACS Energy is driven by a mission to make charging smart, accessible, and user-friendly. Jash, with a background in India’s nuclear power sector and experience scaling two startups to multi-million-dollar valuations, brings deep technical expertise and entrepreneurial acumen to the venture. Together, the duo is reimagining how India powers its EV future.
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.”
Accelerating Deployment and Technological Growth
With the latest funding, ACS Energy plans to expand rapidly across key cities, including Mumbai, Pune, Ahmedabad, Kerala, and Surat, focusing on urban regions witnessing rapid EV adoption. The investment will also fuel the development of smart power distribution systems and load balancing technologies to optimize energy efficiency in dense urban zones.
Riding the Wave of India’s EV Revolution
India’s EV charging market, currently valued at $450 million, is expected to exceed $13 billion by 2032, growing at an annual rate of over 30%. Globally, the market could reach $400 billion by 2034, driven by electrification and smart-grid innovations. With the government’s PM E-DRIVE scheme allocating ₹10,900 crore toward public and residential charging infrastructure, ACS Energy is strategically positioned to capitalize on emerging government and utility partnerships, helping build the backbone of India’s sustainable mobility ecosystem.
Inflection Point Ventures’ Growing Impact
Inflection Point Ventures continues to be one of India’s most active angel investment networks, having invested over ₹800 crore across 250+ startups. IPV’s latest investment in ACS Energy reinforces its commitment to supporting transformative technologies in sustainability, mobility, and energy innovation, further fueling India’s transition toward a cleaner, smarter future.
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