Hyderabad-based Hala Mobility, an electric vehicle (EV)-as-a-service startup, has raised Rs 51 crore in a pre-Series A funding round to fuel its expansion across India. The funding round was led by founders Srikanth Reddy and Snehith Reddy, along with Phani Ramineni, founder of Previa Health. Investors such as Rohan Bajaj syndicate, Sarthy Angels, Bestvantage, and several high-net-worth individuals (HNIs) and family offices also participated, with the funding being a mix of both debt and equity.
The latest investment follows Hala Mobility’s previous successful fundraising, including $1 million in a pre-seed round in May 2022 and Rs 1 crore in debt funding from Perpetuity Capital earlier this year.
What is Hala Mobility?
Founded in 2020 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility offers an EV-as-a-service platform aimed at transforming the logistics and gig economy sector. The company provides comprehensive EV fleet management software, which includes monitoring of vehicles, batteries, and drivers to ensure 95% uptime and round-the-clock service availability.
Currently, Hala Mobility supports delivery giants like Bigbasket, Zomato, and Zepto, helping them meet last-mile logistics needs with a sustainable fleet of electric two-wheelers.
“We’re not just about offering convenience; we’re pushing for change,” says Srikanth Reddy, Co-founder of Hala Mobility. “This funding milestone will help us scale our fleet and extend our green mobility solutions to even more cities across India.”
Expanding the EV Fleet and Ecosystem
The freshly raised capital will fuel Hala Mobility’s plan to extend its operations to six new cities across India. The startup already operates in Hyderabad, Bengaluru, Chennai, Vizag, Vijayawada, and Guntur, and aims to deploy 10,000 new electric vehicles by December 2025. Currently, the company manages a fleet of over 3,000 electric two-wheelers.
Hala Mobility has also formed partnerships with 13 scooter manufacturers and eight battery producers, ensuring it has the infrastructure to scale efficiently. The startup has set up S3 stations, which act as central hubs for managing the demand and supply of its vehicles across locations.
A Greener Future: Revolutionizing Urban Mobility
With this funding, Hala Mobility aims to drive the shift towards cleaner, more sustainable urban transportation. “The support from our investors allows us to scale rapidly, and we’re determined to lead the transition towards a tech-driven, green mobility future,” said Srikanth Reddy.
As India’s demand for sustainable urban mobility solutions grows, Hala Mobility is well-positioned to meet the needs of e-commerce and gig workers who require eco-friendly, efficient transport options for daily operations.
Investors Share Their Vision
Phani Ramineni, one of the key investors in this round, shared his enthusiasm about the company’s future: “My investment in Hala Mobility aligns with our vision of revolutionizing mobility with sustainable solutions and comprehensive EV life cycle management software. This platform not only supports the fleet’s expansion but also opens up numerous future applications across the EV ecosystem. I’m excited to contribute to this shift towards a greener future.”
Conclusion: A Clean, Tech-Driven Future for Indian Mobility
As Hala Mobility continues to expand its footprint, it remains at the forefront of India’s electric vehicle and green mobility revolution. With its cutting-edge EV fleet management platform, strategic partnerships, and commitment to sustainability, Hala is ready to reshape the future of urban transportation in India.
