Hala Mobility, a pioneering platform in the EV-as-a-Service sector, has successfully raised ₹51 crore (approximately $6 million) in its pre-Series A funding round. The investment was led by co-founders Srikanth Reddy and Snehith Reddy, along with Phani Ramineni, the founder of Previa Health. Other contributors included the Rohan Bajaj syndicate via invstt, Sarthy Angels, Bestvantage, and a consortium of high-net-worth individuals (HNIs) and family offices.
The funding will primarily be allocated toward enhancing Hala Mobility’s electric vehicle fleet and facilitating its expansion into six new cities across India. The company aims to introduce an additional 10,000 electric vehicles by December of the following year, reinforcing its commitment to transforming urban mobility with sustainable and eco-friendly solutions.
Established in 2020 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility offers an EV-as-a-service platform tailored for e-commerce enterprises and gig workers. The platform features a comprehensive app that integrates software for managing electric vehicles, batteries, and drivers, along with a fleet of electric two-wheelers that guarantee 95% uptime and 24/7 service availability.
Based in Hyderabad, the startup currently collaborates with major players like Bigbasket, Zomato, and Zepto, partnering with 13 scooter manufacturers and eight battery suppliers. Hala has developed a robust service network, known as S3 stations, which serves as a central hub for demand and supply.
Hala boasts a fleet of 3,000 electric two-wheelers operational in cities such as Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur, with plans to increase its fleet by 10,000 units within these urban areas.
In May 2022, Hala Mobility, which is incubated by T-Hub, raised $1 million in a pre-seed funding round from Magnifiq Securities. Earlier this year, the company also secured ₹1 crore in debt financing from Perpetuity Capital.