Hala Mobility, an electric vehicle-as-a-service platform, has secured Rs 51 Crore which comes around USD 6 million in its pre-series A round. The funding round saw participation from founders Shrikanth Reddy and Snehith Reddy, Phani Ramineni (founder of Previa Health) along with Rohan Bajaj via invstt, Sarthy Angels, Bestvantage and a network of high-net-worth individuals (HNIs) and family offices.
The investment will be used to expand the company’s EV fleet and presence to mark its footprint in six additional cities across India, the company said in a press release. It is aiming to deploy 10,000 new electric vehicles by December 2025; thereby advancing its vision in revolutionizing urban mobility with sustainable and eco-friendly solutions.
Hala mobility was founded in 2022 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek. It is an EV-as-a-service platform designed specifically for e-commerce companies and gig workers.
Also, the platform all has a dedicated app with software for EV, Battery and driver management, which is further coupled with a fleet of electric two-wheelers. This provides a notable 95% uptime guarantee with 24/7 service deliverability.
Furthermore, Hala mobility is stationed out of Hyderabad. As a startup company, it is currently working with Bigbasket, Zomato and Zepto and also partnering with 13 scooters and eight battery manufacturers. They have a huge service network setup named S3 stations, providing its best service to the people with good supply.
Hala Mobility currently operates across Hyderabad, Banglore, Chennai , Vizag, Vijayawada, and Guntur, with a fleet of 3,000 electric two-wheelers. In addition, it is eager to launch 10,000+ fleet in future for the company’s growth. This development is a significant milestone for Hala Mobility, which had previously raised USD 1 million in a pre-seed round from Magnifiq Securities and Rs 1 crore in debt from perpetuity Capital.
