ACS Energy (Ayka Control Systems), a Mumbai-based EV charging startup, has raised ₹1.1 crore in a pre-seed funding round led by Inflection Point Ventures (IPV).
The fresh funds raised will be used to set up more than 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat to make charging more accessible for both homes and businesses. Additionally, a part of the funding will also go into developing advanced energy management systems for high-rise buildings.
Founded in 2022 by Jash Sheth and Mihir Bhanushali, ACS Energy is a Mumbai-based startup focused on solving the complexities of EV charging infrastructure in high-rise buildings and large residential townships, a segment currently underserved despite growing EV mandates in real estate policies.
ACS Energy provides UPI-based EV charging service through its smart AC chargers and proprietary ACS.Pay platform.
The company’s goal is to bring smarter power distribution and load balancing so urban spaces can use energy more efficiently. ACS Energy system uses AI to manage loads and keep payments fast and transparent, making it intuitive and user-friendly.
With integrated AI load management and seamless payment systems, ACS is simplifying EV adoption for homes, workplaces, and public spaces, making charging truly accessible, interoperable, and reliable. Currently active in Mumbai, Pune, Ahmedabad, Kerala, and Surat, ACS Energy is scaling up fast, focusing on areas where EV adoption is picking up speed.
Jash Sheth, Founder & CEO, ACS Energy, said, “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.”
Mitesh Shah, Co-Founder, IPV, said, “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.”
