Electric vehicle

Hala Mobility Secures Rs 51 Crore in Pre-Series A Funding to Expand EV Operations

• ByStartupStory     |    November 4, 2024

Hala Mobility, a Hyderabad-based startup specializing in electric vehicle (EV) solutions, announced on Monday that it has successfully raised Rs 51 crore in a pre-Series A funding round. The funding round saw participation from the company’s founders, Srikanth Reddy and Snehith Reddy, as well as notable investors including Phani Ramineni, founder of Previa Health, Rohan Bajaj syndicate via Invstt, Sarthy Angels, Bestvantage, and a network of high-net-worth individuals (HNIs) and family offices.

This funding, which consists of a combination of debt and equity, will be utilized to facilitate Hala Mobility’s expansion into six new cities across India. Currently, the company operates in key markets including Hyderabad, Bengaluru, Chennai, Vizag, Vijayawada, and Guntur. Hala Mobility is also setting an ambitious target to deploy 10,000 new electric vehicles 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,” he added.

Founded in 2020, Hala Mobility provides an EV-as-a-Service platform catering to e-commerce companies and gig workers. The startup has collaborated with major players such as online grocery platform BigBasket, food delivery service Zomato, and quick commerce delivery platform Zepto. The company currently operates a fleet of over 3,000 electric two-wheelers and has established partnerships 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,” said Ramineni.

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