Hala Mobility, a Hyderabad-based electric vehicle (EV) platform focused on sustainable urban mobility, has raised Rs 51 crore (approximately $6 million) in a pre-Series A round. This funding comes from a mix of Hala’s founders—Srikanth Reddy, Snehith Reddy, and Phani Ramineni (founder of Previa Health)—along with contributions from the Rohan Bajaj syndicate via invstt, Sarthy Angels, Bestvantage, and a network of high-net-worth individuals (HNIs) and family offices.
Scaling EV Fleet and Expanding to Six New Cities
The newly raised funds will enable Hala Mobility to significantly increase its EV fleet, targeting a deployment of 10,000 new electric vehicles by December 2025. The company plans to use the capital to expand its presence in six additional cities across India, aligning with its mission to make urban mobility greener and more efficient.
With a unique EV-as-a-Service model, Hala Mobility has crafted a platform that caters to e-commerce companies and gig workers, offering an app that facilitates comprehensive management of EVs, batteries, and drivers. The company ensures an impressive 95% uptime guarantee on its fleet, underscoring its commitment to reliability and customer satisfaction.
Partnerships with Major Brands and a Growing Service Network
Founded in 2020 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility has grown its EV network across multiple cities. The company collaborates with prominent clients such as Bigbasket, Zomato, and Zepto, providing electric two-wheelers that meet their logistics and delivery needs. Hala also maintains partnerships with 13 scooter and eight battery manufacturers, creating a robust supply chain to support its fleet operations.
Central to Hala’s operations are its S3 stations—dense service networks that act as hubs for both demand and supply. These stations enable quick access to vehicle charging and maintenance services, a key factor in maintaining high service uptime. Currently, Hala’s fleet of 3,000 electric two-wheelers operates in cities like Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur, with plans to expand further as the EV market gains traction across India.
Prior Funding and Future Financial Pathways
Hala Mobility’s journey has been marked by strategic fundraising milestones. In May 2022, Hala raised $1 million in a pre-seed round from Magnifiq Securities through T-Hub’s incubation program. Earlier in 2024, the company also secured Rs 1 crore in debt financing from Perpetuity Capital, underscoring investor confidence in its business model.
This latest pre-Series A funding round marks a significant step forward, enabling Hala to bolster its fleet and broaden its geographic reach. With EV adoption accelerating in India, Hala’s focus on sustainable, service-oriented mobility solutions positions it to capture a growing market of urban commuters and businesses moving toward greener alternatives.
The Road Ahead: Hala’s Vision for Sustainable Urban Mobility
With fresh capital, Hala is looking to redefine how urban mobility functions in India. The company’s goal to deploy 10,000 new EVs by the end of next year reflects its ambition to make sustainable transport a mainstream choice for e-commerce and logistics players. As the company continues to expand its fleet and service network, it could play a pivotal role in India’s transition toward cleaner and more efficient urban transportation.
Hala’s expansion into six new cities will likely solidify its position as a leader in the EV-as-a-Service market, catering to the growing demand for eco-friendly transportation solutions. As more cities across India look to reduce pollution and congestion, platforms like Hala Mobility offer a scalable and sustainable answer to urban transportation challenges.
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