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EV Startup ACS Energy Powers Up with Rs 1.1 Crore Investment
12 Dec
Summary
- ACS Energy secured Rs 1.1 Crore in pre-seed funding from Inflection Point Ventures.
- The startup develops modular EV chargers for residential areas.
- ACS Energy's chargers have already avoided over 80 tons of CO₂ emissions.
ACS Energy, an EV charging startup incubated at riidl Somaiya Vidyavihar University and founded by alumni of K J Somaiya School of Engineering, has successfully raised Rs 1.1 Crore in pre-seed funding from Inflection Point Ventures. This significant financial injection marks a crucial step in scaling its clean-mobility mission.
The startup is focused on developing modular and user-friendly EV charging solutions specifically for residential townships and high-rise buildings, a segment currently underserved within India's burgeoning EV ecosystem. The newly acquired funds are earmarked for expanding their charging network across Mumbai and other key urban centers, enhancing their proprietary hardware-software stack, and accelerating deployment within gated communities.
ACS Energy's impact is already tangible, with its chargers facilitating the avoidance of over 80 tons of tailpipe CO₂ emissions, equivalent to over 6,00,000 green kilometers driven. This milestone underscores the company's commitment to sustainable mobility and its successful transition from an academic project to a commercially viable venture, supported by Somaiya Vidyavihar University's robust innovation ecosystem.
