ACS Energy Raises ₹1.1 Crore to Expand UPI-Enabled EV Charging Network

ACS Energy, an innovative Mumbai-based startup, has raised ₹1.1 Crore in a pre-seed funding round led by Inflection Point Ventures (IPV). The funds will be used to accelerate the deployment of over 5,000 UPI-enabled electric vehicle (EV) charging stations across Maharashtra and Gujarat, as well as to develop advanced energy management systems designed specifically for high-rise buildings and large residential complexes.

Key Takeaways:

• ACS Energy has raised ₹1.1 Crore in pre-seed funding to expand UPI-based EV charging across Maharashtra and Gujarat.

• The startup is focusing on simplifying the EV charging experience with smart hardware and AI-powered energy management systems.

• The company plans to deploy over 5,000 charging stations and develop advanced energy management solutions for high-rise buildings.

• The investment by Inflection Point Ventures highlights the growing demand for seamless, accessible EV infrastructure in India.

ACS Energy, which operates under the brand name Ayka Control Systems Pvt. Ltd., is setting new benchmarks in India’s growing EV infrastructure landscape. With the introduction of UPI-based payments for EV charging, ACS has made a significant leap in simplifying the user experience. In addition to its easy payment platform, the company combines both hardware and software solutions, including AI-powered load management and energy optimisation technologies, designed to make EV charging smarter and more accessible.

A Smart, Seamless Charging Experience for All

Jash Sheth, Founder and CEO of ACS Energy, emphasises the company’s goal to make EV charging as easy as fuelling up at a gas station. "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,” Sheth explains.

The need for smarter and more accessible EV charging solutions is urgent. As EV adoption grows in India, particularly in urban areas, the country’s charging infrastructure needs to keep pace. According to recent reports, the market for EV charging infrastructure in India is projected to be worth $450 million this year, and it is expected to surge to $13 billion by 2032. This rapid growth, fueled by governmental support and a rising number of EVs on the road, offers a promising market for innovative companies like ACS Energy.

In addition to expanding its charging network, ACS Energy’s funding will go towards developing energy management systems that can intelligently manage power distribution in high-rise buildings and large townships. With urban spaces increasingly becoming the hotspots for EV adoption, balancing energy loads and optimising power consumption are critical for preventing grid overloads and ensuring reliable service.

Mihir Bhanushali, co-founder and COO of ACS Energy, adds, “Our AI-driven energy management systems are designed to help buildings and DISCOMs manage load intelligently, ensuring that energy is used efficiently while preventing overburdening the local grid.”

Inflection Point Ventures (IPV), a leading venture capital firm, has invested over ₹800 Crore across 250+ startups. Mitesh Shah, co-founder of IPV, highlights the importance of ACS Energy’s innovation in driving India’s EV transition forward: “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.”

With this funding round, ACS Energy is positioned to scale rapidly, especially in cities where EV adoption is gaining momentum. Active in regions such as Mumbai, Pune, Ahmedabad, Kerala, and Surat, the company plans to deploy its chargers in both residential and business environments, ensuring that EV owners have access to convenient, easy-to-use charging stations across key metropolitan areas.

Future for EV Charging Infrastructure

As India continues to transition towards a greener and more sustainable future, companies like ACS Energy play a crucial role in enabling the growth of the EV ecosystem. The Indian government’s push for EV adoption, backed by the PM E-DRIVE scheme, aims to establish over 10,000 public and residential charging stations nationwide, providing fertile ground for the likes of ACS to contribute to the electrification of the nation’s transport sector.

In the coming years, ACS Energy’s UPI-based charging infrastructure is poised to become an integral part of the EV landscape, as more and more consumers demand seamless, frictionless charging experiences. As the company continues to innovate and expand, it will not only provide a convenient solution for EV owners but also play a key role in accelerating the transition to a greener, more sustainable energy future for India.