TL;DR
EV charging startup ACS Energy secured INR 1.1 crore in funding to expand its modular charging network in Indian residential areas, promoting EV adoption and reducing emissions.
ACS Energy, an SVU-supported and riidl-backed startup, has successfully secured INR 1.1 crore in pre-seed funding. This crucial investment will fuel the company's ambitious plans to scale its modular and user-friendly electric vehicle (EV) charging solutions across Mumbai and other major urban centers in India. The startup focuses on an underserved segment: residential townships and high-rise buildings.
The funds will be primarily utilized to expand ACS Energy's charging network, strengthen its hardware-software integration, and accelerate the deployment of charging infrastructure within gated communities and housing societies. By creating tailored solutions for these residential areas, ACS Energy aims to make EV ownership more convenient and accessible for a growing number of Indian consumers.
ACS chargers have already made a measurable impact, contributing to the avoidance of over 80 tons of tailpipe CO₂ emissions by facilitating the shift from internal combustion engine (ICE) vehicles to EVs. This investment not only supports ACS Energy's growth but also plays a vital role in advancing India's EV ecosystem and its broader sustainability goals.
