ACS Energy, backed by SVU and riidl, raises INR 1.1 crore in fresh funding

ACS Energy Founders Mihir Bhanushali (left) & Jash Sheth (right)

Mumbai (Maharashtra) [India], November 20: ACS Energy — an EV charging startup founded by alumni of K J Somaiya School of Engineering, Somaiya Vidyavihar University — has raised ₹1.1 crore in pre-seed funding from Inflection Point Ventures (IPV).

This achievement comes after years of structured guidance and ecosystem support from riidl Somaiya Vidyavihar University, where the startup received mentorship, prototyping facilities, and access to government-led innovation programmes. ACS Energy was a recipient of the NIDHI Prayas grant from the Department of Science & Technology (DST) and a participant in the HDFC Parivartan Manufacturing Accelerator by HDFC Bank & riidl SVU. These programmes helped the team build its foundational engineering systems, refine its technology, and strengthen its charging infrastructure solutions, with additional backing from the Maharashtra State Innovation Society.

ACS Energy is building modular, easy-to-use EV charging systems tailored specifically for residential townships and high-rise buildings — a crucial but underserved segment in India’s evolving EV landscape. With this new funding, the startup plans to scale its charging network across Mumbai and other metro markets, enhance its integrated hardware–software platform, and expedite deployments in gated communities and housing societies.

ACS’s chargers have already helped avoid more than 80 tons of tailpipe CO₂ emissions by shifting daily commuting from ICE vehicles to EVs charged on our network. Based on the total kWh delivered and average EV efficiency, this is equivalent to over 6,00,000 green kilometres of cleaner travel powered through ACS.

Founded by SVU alumni, ACS Energy traces its research roots to riidl and the ecosystem at Somaiya Vidyavihar University, where the team first began exploring EV technologies, system design, and early prototypes. The university’s research culture, engineering labs, and sustained incubation support through riidl Somaiya Vidyavihar University helped the founders transition from an academic project into a commercially deployable venture. ACS Energy’s first EV charging station was deployed on the Somaiya Vidyavihar University campus, providing the team with a live environment to test, validate, and optimise the technology before commercial rollout.

Both founders of ACS Energy come from K J Somaiya School of Engineering (KJSSE). Jash Sheth specialised in Mechanical Engineering, and Mihir Bhanushali pursued Electronics & Telecommunication Engineering. During his time at KJSSE, Jash was selected for an international exchange programme in France at the University of Technology of Troyes, where he was exposed to European energy systems, sustainable mobility and smart infrastructure. The college supported him with academic flexibility and credit transfers, enabling him to manage his coursework while gaining this international experience.

Their combined experiences in Mechanical Engineering, Electronics & Telecommunication Engineering, along with the global exposure gained through KJSSE’s exchange programme, played a key role in shaping the technical depth and global outlook behind Ayka’s UPI-enabled EV chargers and AI-based energy platform.

“Our journey began at Somaiya Vidyavihar University, where we had the environment, mentorship, and encouragement to build early prototypes and validate real-world use cases. The support we received from riidl Somaiya Vidyavihar University, through incubation and access to prototyping grants, gave us the runway to refine our technology. This new round of investment strengthens our commitment to building scalable clean-energy solutions for India and emerging markets,”  said Jash Sheth, Founder & CEO, ACS Energy.

“We are proud to see ACS Energy, an SVU-born and a riidl-incubated startup, achieving this important milestone,” said Gaurang Shetty, Chief Innovation Catalyst, riidl Somaiya Vidyavihar University. “Somaiya Vidyavihar University and riidl have built one of the most comprehensive university-based innovation ecosystems in India. From mentorship and prototyping support to access to research infrastructure and industry linkages, our focus has always been to enable founders to move from concept to commercialisation. ACS Energy’s success reaffirms the strength of this ecosystem and the impact it can create.”

This milestone also reflects the strength of the innovation ecosystem built by riidl Somaiya Vidyavihar University to support founders from idea to scale. By combining academic depth, research infrastructure, and hands-on entrepreneurial guidance, they enable early-stage ventures like ACS Energy to evolve into high-impact, market-ready companies.

About ACS Energy

ACS Energy (Ayka Control Systems Pvt. Ltd.) is a Mumbai-based clean-tech company focused on building India’s next-generation EV charging infrastructure. We design and manufacture AC EV chargers (3.3 kW to 22 kW) for homes, societies, commercial buildings and real estate projects, with a strong focus on safety, reliability and easy installation. To date, we have deployed 250+ AC EV chargers, enabling 6,00,000+ green kilometres of EV travel and helping avoid 80+ tons of CO₂ tailpipe emissions.

Along with hardware, we’ve built ACS.Pay, our own payment and charge-management system that enables UPI-based, per-unit energy billing, remote monitoring, user authentication and smart access control. Together, our chargers and ACS.Pay gives developers, RWAs, fleets and businesses a single integrated solution for hardware + software + payments, reducing operational headaches and making EV charging simple, compliant and profitable.

About riidl Somaiya Vidyavihar University

Ridl Somaiya Vidyavihar University supports the creation and incubation of early-stage companies from ideation to commercialisation by providing resources, labs, government grants, investor connections, funding, and mentorship. Business incubators of Riidl Somaiya Vidyavihar University are supported by the Department of Science & Technology, BIRAC, Department of Biotechnology, MeitY, Government of India and Maharashtra State Innovation Society, Government of Maharashtra. It has incubated over 300 startups and facilitated the creation of 1000+ jobs and internship opportunities, with total revenue generated by the startups exceeding INR 400 Cr.

riidl Somaiya Vidyavihar University has been bestowed with the National Award for the year 2020 in the Emerging Technology Business Incubator category by the Department of Science and Technology, Government of India.

Somaiya Vidyavihar University, built on the 80-year legacy of the Somaiya Trust, is a multidisciplinary institution offering 2,000+ courses across fields like management, engineering, humanities, and sciences. Spread across a 50-acre green campus, the university fosters holistic education, integrating academics with research, entrepreneurship, and a vibrant sports and cultural ecosystem. With a strong industry connection and global academic collaborations, it nurtures students into well-rounded professionals. Committed to innovation and lifelong learning, Somaiya Vidyavihar University provides a transformative environment that empowers students to create meaningful impact.