Hala Mobility bags Rs 51 Cr in pre-Series A funding
Hala Mobility, the EV-as-a-Service platform, will use the funds to expand its footprint to six additional cities across India.
Hala Mobility said on Monday it secured Rs 51 crore in a pre-Series A funding round, which saw participation from the company’s founders, Srikanth Reddy and Snehith Reddy.
The funding, a combination of debt and equity, also saw investments from Previa Health Founder Phani Ramineni, along with Rohan Bajaj syndicate via Invstt, Sarthy Angels, Bestvantage, and a network of high-net-worth individuals (HNIs) and family offices.
Hala Mobility will use the newly raised funds to expand to six new cities in India. It currently operates in Hyderabad, Bengaluru, Chennai, Vizag, Vijayawada, and Guntur.
The company also aims to deploy 10,000 new electric vehicles (EVs) by December next year.
"At Hala Mobility, we’re not just offering convenience but pushing for necessary change. This funding is a major milestone as we gear up to expand our EV fleet and extend our green mobility solutions to more cities,” said Srikanth Reddy, Co-founder of Hala Mobility, in a statement.
“The support from our investors enables us to scale rapidly and drive the shift towards cleaner, more sustainable urban transportation across India. We believe the future of mobility has to be clean and efficient, and we're here to drive that change," Srikanth added.
Founded in 2020, the Hyderabad startup provides an EV-as-a-Service platform for ecommerce companies and gig workers, including online grocery platform BigBasket, food delivery platform Zomato, and quick commerce delivery platform Zepto.
According to the company, it also operates a fleet of over 3,000 electric two-wheelers and has partnered with 13 EV two-wheeler and battery manufacturers.
“My investment in Hala Mobility is driven by our vision of transforming mobility through sustainable solutions and the development of a complete EV life cycle management software. This platform not only supports the current fleet expansion but also opens up future applications across the EV ecosystem. I’m committed to driving this innovation and leading the shift toward a greener, tech-driven future," Ramineni said.
Edited by Suman Singh
