Mumbai-based startup eyes 5,000 smart charging points across Maharashtra and Gujarat
ACS Energy, an electric vehicle (EV) charging infrastructure startup based in Mumbai, has raised ₹1.1 crore in pre-seed funding led by Inflection Point Ventures (IPV). Operating under Ayka Control Systems Pvt. Ltd, the company aims to expand its network of UPI-enabled EV chargers, strengthening India’s growing clean mobility ecosystem.
Integrating fintech and mobility with AI-powered charging
Founded in 2022 by Jash Sheth (CEO) and Mihir Bhanushali (COO), ACS Energy has developed multi-vehicle-compatible charging systems for two-, three-, and four-wheelers. Its proprietary ACS.Pay platform allows instant UPI payments, while its AI-based load management technology optimizes energy distribution in high-rise buildings and residential townships — addressing a key challenge in India’s EV infrastructure.
Funding to fuel large-scale deployment and innovation
The fresh infusion of funds will enable ACS Energy to deploy 5,000 charging stations across Maharashtra and Gujarat, while also advancing its Energy Management Systems (EMS) for smarter power control and load balancing. With operations already in Mumbai, Pune, Ahmedabad, Surat, and Kerala, the company plans to expand into high-demand EV regions in the coming year.
Positioning for India’s next EV growth phase
India’s EV charging infrastructure market, currently valued at $450 million (2025), is expected to soar to $13 billion by 2032, driven by schemes like PM E-DRIVE and strong private-sector investment. IPV’s Co-Founder Mitesh Shah praised ACS Energy for offering “a full hardware and software package that makes charging quick, transparent, and hassle-free.”
With this capital and a fintech-integrated approach, ACS Energy is well-positioned to support India’s next phase of EV growth through scalable, intelligent charging solutions.
