Hala Mobility Secures Rs 51 Cr In Pre-series A Funding Round

Hala Mobility, an electric vehicle-as-a-service platform, has successfully secured Rs 51 crore (approximately USD 6 million) in its pre-series A funding round. The investment was led by the company's founders, Srikanth Reddy and Snehith Reddy, alongside Phani Ramineni, founder of Previa Health, and the Rohan Bajaj syndicate via invstt. Additional support came from Sarthy Angels, Bestvantage, and a network of high-net-worth individuals and family offices.

The funds will be utilised to expand Hala Mobility’s electric vehicle fleet and extend its operations into six new cities across India. The startup aims to deploy 10,000 new electric vehicles by December next year as part of its mission to transform urban mobility with sustainable solutions.

Founded in 2020 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility provides a dedicated EV-as-a-Service platform tailored for e-commerce businesses and gig workers. Their offering includes a comprehensive app that manages electric vehicles, batteries, and drivers, alongside a fleet of electric two-wheelers that promise a 95 per cent uptime guarantee and 24/7 service availability.

Based in Hyderabad, Hala Mobility currently collaborates with major companies like Bigbasket, Zomato, and Zepto, and has established partnerships with 13 scooter manufacturers and eight battery producers. The startup has also set up a dense service network called S3 stations, which serves as a hub for demand and supply.

Hala Mobility operates a fleet of 3,000 electric two-wheelers across cities such as Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur, with plans to expand by adding 10,000 more vehicles in these locations.

In May 2022, Hala Mobility, incubated by T-Hub, raised USD 1 million in a pre-seed round from Magnifiq Securities. Earlier this year, the company secured Rs 1 crore in debt financing from Perpetuity Capital.