ACS Energy, a campus-born EV charging startup founded by alumni of K J Somaiya School of Engineering at Somaiya Vidyavihar University, has raised ₹1.1 crore in pre-seed funding from Inflection Point Ventures (IPV).
The funding marks a significant milestone for the startup, which has grown with consistent support from riidl Somaiya Vidyavihar University through mentorship, early-stage prototyping facilities, and access to government-backed initiatives. ACS Energy previously received the NIDHI Prayas prototyping grant from the Department of Science & Technology (DST) and participated in the HDFC Parivartan Manufacturing Accelerator run by HDFC Bank and riidl, enabling the team to build its foundational systems, engineering framework, and core charging technology. The Maharashtra State Innovation Society also supported their journey.
The company is focused on creating modular and user-friendly EV charging solutions tailored for residential townships and high-rise buildings—an emerging but underserved segment in India’s EV landscape. With the new investment, ACS Energy plans to scale its charging network across Mumbai and other major urban centres, strengthen its hardware–software integration, and speed up deployments in gated communities and housing societies.
ACS chargers have already contributed to avoiding more than 80 tons of tailpipe CO₂ emissions by shifting daily commutes from ICE vehicles to EVs powered through its network. Based on total energy delivered and average EV efficiency, this translates to over 6,00,000 green kilometres of cleaner travel.
Founded by Somaiya Vidyavihar University alumni, ACS Energy traces its origins to research and experimentation within the university’s innovation ecosystem. Early exploration of EV technologies, system design, and prototype development took place at riidl’s engineering labs, helping the founders evolve their academic project into a market-ready startup. The startup’s first EV charging station was deployed on the Somaiya Vidyavihar University campus, which provided a real-world test environment for refining and validating the technology before commercial rollout.
Both co-founders of ACS Energy graduated from K J Somaiya School of Engineering. Jash Sheth specialised in Mechanical Engineering, while Mihir Bhanushali studied Electronics & Telecommunication Engineering. During his time at KJSSE, Jash participated in an international exchange programme at the University of Technology of Troyes in France, where he gained exposure to European energy systems, sustainable mobility, and smart infrastructure. Academic flexibility and credit transfers from the college enabled him to pursue this international experience without hindering his coursework.
Their combined technical expertise and global exposure played a crucial role in developing Ayka’s UPI-enabled EV chargers and AI-powered 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 from riidl through incubation and prototyping grants gave us the runway to refine our technology. This new investment strengthens our commitment to building scalable clean-energy solutions for India and emerging markets,” said Jash Sheth, Founder & CEO of ACS Energy.
“We are proud to see ACS Energy, an SVU-born and riidl-incubated startup, reaching this milestone,” said Gaurang Shetty, Chief Innovation Catalyst at riidl Somaiya Vidyavihar University. “Somaiya Vidyavihar University and riidl have established one of India’s strongest university-led innovation ecosystems. From mentorship and prototyping support to access to research facilities and industry connections, our aim is to help founders move from idea to commercialisation. ACS Energy’s success underscores the strength and impact of this ecosystem.”
This achievement highlights the robust innovation framework built by riidl Somaiya Vidyavihar University, which supports founders at every stage—from ideation to scaling—by integrating academic expertise, research infrastructure, and hands-on entrepreneurial guidance, enabling startups like ACS Energy to develop into impactful, market-ready ventures.
