Hyderabad's Hala Mobility Raises USD 6 Mn to Drive Green Mobility in Six New Cities The pre-Series A round saw participation from founders Srikanth and Snehith Reddy, Phani Ramineni, Rohan Bajaj syndicate, Sarthy Angels, Bestvantage, and a network of HNIs and family offices.
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Hala Mobility, an innovative EV-as-a-Service platform based in Hyderabad, has secured INR 51 crore (around USD 6 million) in a pre-Series A funding round from the company's founders, Srikanth Reddy and Snehith Reddy.
The funding 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.
This new funding marks a significant step in Hala Mobility's expansion strategy, enabling the startup to extend its services to six additional cities across India. Hala already operates in Hyderabad, Bengaluru, Chennai, Vizag, Vijayawada, and Guntur.
With plans to deploy an additional 10,000 electric vehicles by December of the upcoming year, Hala aims to solidify its position as a frontrunner in India's EV-as-a-service space.
"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.
"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," he added.
Founded in 2020 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility provides a tailored EV-as-a-Service platform, primarily serving e-commerce companies and gig economy workers. The company's current partners include major players like BigBasket, Zomato, and Zepto. Through its robust app, Hala offers comprehensive management software for EVs, batteries, and drivers, ensuring a 95% uptime guarantee and 24/7 service availability.
The Hyderabad-based startup operates a fleet of over 3,000 electric two-wheelers, supported by partnerships with 13 EV manufacturers and eight battery providers. It also has a network of service hubs, known as S3 stations, which streamline the supply and demand of its fleet.
Earlier in 2022, Hala raised USD 1 million in pre-seed funding from Magnifiq Securities and, more recently, INR 1 crore in debt from Perpetuity Capital.
"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.
