ACS Energy Raises ₹1.1 Cr Pre-Seed Fund from Inflection Point Ventures for UPI-Enabled EV Charging

EV charging startup ACS Energy (Ayka Control Systems Pvt. Ltd) has successfully raised ₹1.1 Crore in a pre-seed funding round led by the angel investment firm Inflection Point Ventures (IPV).

The Mumbai-based company is set to tackle a major friction point in the EV ecosystem with its unique platform : India’s first EV chargers with built-in UPI payment capability. This funding is earmarked for a significant network expansion and technological development.

UPI-Enabled Charging: The Core Innovation

ACS Energy’s primary innovation is integrating a seamless UPI payment system directly into its smart AC chargers. This hardware and software blend, managed by the ACS Pay platform, allows any EV user to charge their vehicle and pay instantly, removing the need for multiple apps or proprietary subscription cards that currently complicate the user experience.

Jash Sheth, Founder & CEO of ACS Energy, compared the vision to the simplicity of traditional fueling. “At a petrol pump, you don’t think twice—you just pay and move. EV charging should be just as simple," he said. "With India’s first UPI-enabled charging network, we’re bringing that same ease to the EV ecosystem.”

Strategic Expansion: 5,000+ Chargers Planned

The newly acquired funds will be strategically deployed to:

• Install over 5,000 UPI-enabled EV charging stations across key markets in Maharashtra and Gujarat.

• Develop advanced AI-driven energy management systems specifically designed for high-rise residential buildings and large townships—a segment the company notes is currently underserved.

This focus on load balancing and smart power distribution aims to help large buildings and DISCOMs manage energy use more efficiently as EV adoption rises.

Investor Confidence and Market Potential

The Indian EV charging infrastructure market, valued at approximately $450 million in 2025, is projected to skyrocket to over $13 billion by 2032, growing at a CAGR of over 30%.

Mitesh Shah, Co-Founder of Inflection Point Ventures, highlighted the startup's practical approach. “India’s EV revolution is incomplete without a strong support system... 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... makes EV charging as seamless as buying groceries.”

Founded in 2022 by Jash Sheth and Mihir Bhanushali (Co-Founder & COO), ACS Energy is currently active in Mumbai, Pune, Ahmedabad, Kerala, and Surat, with plans for rapid scaling.