Mumbai-based ACS Energy (Ayka Control Systems Pvt. Ltd) has raised ₹1.1 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). The startup, India’s first UPI-integrated EV charging platform, aims to revolutionize how users charge their electric vehicles by combining smart hardware and intuitive software for seamless, transparent, and instant payments.
Founded in 2022 by Jash Sheth and Mihir Bhanushali, ACS Energy is tackling one of India’s biggest EV challenges — charging infrastructure in high-rise buildings and residential complexes, an underserved but crucial segment as EV adoption accelerates.
With the new funding, ACS Energy plans to deploy over 5,000 UPI-enabled charging stations across Maharashtra and Gujarat and develop AI-driven energy management systems to help urban buildings and DISCOMs balance power loads more efficiently.
Speaking on the announcement, Mitesh Shah, Co-founder of Inflection Point Ventures, said, India’s EV revolution is incomplete without a strong support system fuelling its growth. ACS Energy’s UPI-based charging solution makes EV charging as quick and effortless as everyday transactions — a step towards truly democratizing clean mobility.
ACS Energy’s chargers are compatible with two-, three-, and four-wheelers, offering a universal and interoperable solution for India’s diverse EV market. The company has already launched smart AC chargers and the ACS Pay platform, making EV charging as simple as scanning a QR code and paying via UPI.
Jash Sheth, Founder and CEO of ACS Energy, added, At a petrol pump, you don’t think twice — you just pay and go. EV charging should be just as simple. Our UPI-enabled network and AI-based energy systems will make EV adoption effortless for both consumers and communities.
Currently active in Mumbai, Pune, Ahmedabad, Surat, and Kerala, the company is rapidly expanding into EV hubs where adoption is gaining momentum.
India’s EV charging market, valued at $450 million in 2025, is projected to exceed $13 billion by 2032, growing at over 30% annually. With the government’s ₹10,900 crore PM E-DRIVE scheme aimed at scaling charging infrastructure, startups like ACS Energy are well-positioned to power the next phase of India’s green mobility revolution.
