EV charging platform ACS Energy has raised INR 1.1 crore in a pre-seed funding round led by Inflection Point Ventures (IPV).
The startup plans to use the funds to install 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat, making electric vehicle charging more accessible and convenient.
Additionally, ACS Energy will invest in developing AI-powered energy management systems designed for high-rise buildings, helping optimize power usage and improve energy efficiency.
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.”
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.”
Founded in 2022 by Jash Sheth and Mihir Bhanushali, Mumbai-based ACS Energy is a UPI-enabled EV charging platform that aims to make electric vehicle charging simple and accessible for everyone.
The company combines hardware and software solutions to improve the efficiency and convenience of charging electric vehicles across different locations.
Its chargers are compatible with two-, three-, and four-wheelers and integrate with ACS Pay, enabling users to make instant UPI transactions for a smooth payment experience.
The startup solves a major problem of limited charging options in high-rise buildings and housing complexes. It uses AI-powered systems to manage electricity use smartly, ensuring balanced power distribution and less energy waste.
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