ACS Energy raises Rs 1.1 Cr in pre-seed round led by IPV

EV charging startup ACS Energy has raised Rs 1.1 crore (around $132K) in a pre-seed funding round led by Inflection Point Ventures (IPV). 

The proceeds will be used to deploy 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat, and to develop AI-driven energy management systems for high-rise buildings.

Founded in 2022 by Jash Sheth and Mihir Bhanushali, ACS Energy is a UPI-enabled EV charging platform, combining hardware and software to make charging more efficient and accessible. Its chargers support two, three, and four-wheelers and integrate with the ACS Pay system, allowing users to complete transactions instantly through UPI.

The startup is addressing a major gap in charging infrastructure for high-rise buildings and residential complexes, offering AI-based systems that manage power distribution and reduce energy waste.

Currently active in Mumbai, Pune, Surat, Ahmedabad, and Kerala, ACS Energy plans to expand nationwide. As per market research, India’s EV charging market is projected to reach $13 billion by 2032, and ACS aims to be a key player in this growth by enabling seamless, digital-first charging experiences.