In a major boost to India’s electric mobility revolution, ACS Energy Raises ₹1.1 Cr in a pre-seed round led by Inflection Point Ventures (IPV). The Mumbai-based startup, operating under Ayka Control Systems Pvt. Ltd, is making waves as India’s first UPI-enabled EV charging platform, blending innovation, convenience, and sustainability. With this breakthrough, ACS Energy is set to redefine how Indians charge their electric vehicles — making it as easy as scanning a QR code. But how does this funding fuel their vision to transform EV infrastructure across the nation? Let’s dive into the full story.
Pioneering UPI-Enabled EV Charging
Founded in 2022 by Jash Sheth (CEO) and Mihir Bhanushali (COO), ACS Energy combines smart hardware and intelligent software to provide a seamless charging experience for two, three, and four-wheel electric vehicles. The company’s proprietary platform, ACS.Pay, enables direct UPI-based payments, eliminating the need for third-party wallets or apps and making EV charging as simple as scanning a QR code.
Beyond payments, ACS Energy’s charging stations are equipped with AI-powered load management systems that intelligently distribute power across connected vehicles—optimizing efficiency and minimizing stress on local power grids. This innovation particularly benefits high-rise buildings, housing societies, and residential complexes, where charging infrastructure often faces space and power distribution challenges.
Expanding Infrastructure in Key States
With the newly raised capital, ACS Energy plans to deploy over 5,000 UPI-enabled charging stations across Maharashtra and Gujarat in the coming year. A part of the funding will also support R&D for advanced energy management systems, focusing on load balancing and power optimization for both residential and commercial properties.
Currently, ACS Energy has a footprint in Mumbai, Pune, Ahmedabad, Kerala, and Surat, and aims to strengthen its presence in high-growth EV markets where adoption rates are rising rapidly.
Investor Confidence and Industry Impact
Mitesh Shah, Co-Founder of Inflection Point Ventures, expressed confidence in ACS Energy’s integrated approach, stating,
“ACS Energy offers more than just a charger — it’s a complete hardware and software ecosystem that makes EV charging quick, transparent, and hassle-free. Their UPI-based model allows anyone to pay instantly, driving inclusivity and convenience.”
Sharing his vision, Jash Sheth, CEO of ACS Energy, added,
“With India’s first UPI-enabled charging network, we’re bringing the same simplicity of everyday digital transactions to EV charging. Our AI-driven Energy Management Systems will further help buildings and DISCOMs manage load intelligently and sustainably.”
The Bigger Picture: India’s EV Charging Boom
India’s EV charging infrastructure market is currently valued at $450 million (2025) and is expected to soar to $13 billion by 2032, growing at an impressive 30%+ CAGR. Government initiatives like the PM E-DRIVE scheme, backed by a ₹10,900 crore budget, are set to boost both public and residential charging deployment across the nation.
Meanwhile, Inflection Point Ventures, a major backer of early-stage startups, has invested ₹800+ crore across 250+ ventures. Through its Physis Capital fund, IPV continues to support innovative businesses that drive India’s transition to sustainable, tech-enabled industries.
Conclusion
With a unique UPI-enabled ecosystem, AI-driven load management, and strong investor backing, ACS Energy is set to redefine how India charges its electric vehicles. As the country accelerates toward a cleaner, digital-first mobility future, ACS Energy stands poised at the intersection of technology, convenience, and sustainability.
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