Electric vehicle charging startup ACS Energy has raised Rs 1.1 crore (around $132,000) in a pre-seed funding round led by Inflection Point Ventures (IPV).
The company will utilize the fresh funds to deploy 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat and to develop AI-driven energy management systems designed for high-rise buildings and housing complexes.
Simplifying EV Charging Through UPI Integration
Founded in 2022 by Jash Sheth and Mihir Bhanushali, ACS Energy operates a UPI-enabled EV charging platform that merges hardware and software to create a seamless user experience.
Its charging systems support two-, three-, and four-wheelers, integrating with ACS Pay, the company’s proprietary payment interface that enables instant UPI-based transactions. This approach makes EV charging both faster and more accessible for urban users and residential communities.
AI-Driven Energy Management for Smart Buildings
In addition to charging infrastructure, ACS Energy is developing AI-powered energy management systems that optimize electricity distribution in high-rise buildings reducing energy waste and ensuring balanced power usage across EV chargers and household systems.
Currently operating in Mumbai, Pune, Surat, Ahmedabad, and Kerala, the startup plans to expand nationwide in the next phase of growth.
Positioning for India’s $13 Billion EV Charging Opportunity
With India’s EV charging market projected to reach $13 billion by 2032, ACS Energy aims to become a leading enabler of digital-first, sustainable charging experiences.
“Our goal is to make EV charging as simple as digital payments efficient, instant, and accessible to everyone,” said Jash Sheth, Co-founder and CEO of ACS Energy.
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