ACS Energy Systems (Ayka Control Systems Pvt. Ltd.), a Mumbai-based EV charging startup, has raised ₹1.1 Crore in a pre-seed funding round led by Inflection Point Ventures. The startup is pioneering India’s EV ecosystem with universally compatible chargers for two, three, and four-wheelers, alongside smart AC chargers and the ACS Pay platform, the first in the country to enable UPI-based payments for EV charging.
Founded in 2022, ACS Energy addresses the complexities of EV charging in high-rise buildings and large residential townships, a segment currently underserved despite growing EV adoption mandates in real estate policies. Using AI-driven load management, ACS ensures fast, transparent, and user-friendly payments for EV users, setting new standards for digital-first and interoperable charging.
The company, led by Jash and Mihir, aims to leverage this new funding to establish 5,000+ UPI-enabled EV charging stations across Maharashtra and Gujarat, improving accessibility for homes and businesses. Additionally, part of the investment will support the development of advanced energy management systems for urban buildings, enabling smarter power distribution and load balancing to maximize energy efficiency.
ACS Energy’s mission is clear: simplify EV charging, accelerate adoption, and redefine urban energy management for a sustainable future.
Mitesh Shah, Co-Founder, IPV says, “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.”
The team behind ACS Energy ~ Jash Sheth (CEO) and Mihir Bhanushali (Co-Founder & COO) – aren’t just building tech; they’re reimagining how India charges up. With strong backgrounds in tech and engineering, they’re pushing for infrastructure that’s intelligent and easy to use, making sustainable mobility feel less like a chore and more like the obvious choice.
Jash Sheth, Founder & CEO, ACS Energy says, “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.”
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. By getting their UPI-enabled chargers out in these cities, it aims to build a solid network that connects both city dwellers and new EV hubs.
This year alone, India’s EV charging infrastructure market is worth about $450 million. By 2032, it’s expected to top $13 billion, growing at over 30% each year. Globally, the market could hit $400 billion by 2034, fueled by electrification and smart-grid tech. As the government’s PM E-DRIVE scheme – with a massive ₹10,900 crore budget translates into more public and residential charging stations, it’s a huge chance for companies like ACS to jump in on government and utility projects, driving India’s EV future forward.
