Hala Mobility secures Rs 51 Cr to accelerate EV adoption in India
Hala Mobility, India's fastest-growing EV-as-a-Service Platform, has secured Rs 51 crore in its pre-Series A funding round, a combination of debt and equity
Srikanth Reddy, Co-Founder of Hala Mobility
Mumbai, Nov 06: Hala Mobility, India's fastest-growing EV-as-a-Service Platform, has secured Rs 51 crore in its pre-Series A funding round, a combination of debt and equity. The round saw participation from founders Srikanth Reddy and Snehith Reddy, Phani Ramineni (Founder of Previa Health), along with Rohan Bajaj syndicate via invstt, sarthy angels, Bestvantage and a network of high-net-worth individuals (HNIs) and family offices.
This new capital will be instrumental in scaling Hala Mobility’s EV fleet and expanding its footprint to six additional cities across India. The company aims to deploy 10,000 new electric vehicles by December next year, furthering its vision of revolutionising urban mobility with sustainable and eco-friendly solutions.
"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." added Srikanth.
Hala Mobility, based in Hyderabad, operates in six major Indian cities: Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur. The company provides an EV-as-a-service platform designed for e-commerce companies and gig workers. Their platform includes an app with software for EV, Battery and driver management, along with a fleet of electric two-wheelers ensuring 95% uptime guarantee and round-the-clock service availability. Currently working with Bigbasket, Zomato, and Zepto and partnering with 13 scooters and eight battery manufacturers. They have a dense service network setup named S3 stations, serving as the epicentre of demand and supply. They efficiently manage the ground operations by increasing revenue by 25%, reducing churn by 42% and increase earning potential by 48%. With 3000+ fleet Hala has travelled more than 132M kms on EV’s reducing more than 4000 metric tonnes of CO2 emissions and saving 2M Litres of fuel consumption. With peta bytes of location information and vehicle information processed, hala’s ML algorithms are today capable of mapping demand, vehicle type, battery type to different geographies, terrains, users and businesses and stiching a right solution with available providers on ground becoming a full stack EV solution offering.
Hala Mobility is focused on expanding its geographical reach and fleet size. It currently has a fleet of 3000 electric two-wheelers in Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur in Hyderabad, with a further growth of 10,000 more fleet within these cities.
“Hala Mobility is leading the way in revolutionising urban transportation using technology and innovation. Investing in Hala gets us to be part of a forward-thinking movement that prioritizes cleaner, more efficient mobility for cities. This aligns with our commitment to supporting sustainable initiatives and presents an opportunity to contribute to meaningful change while backing the growth of eco-friendly transportation.” - Kanishk Dubey & Sathvik Reddy
"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." – Phani Ramineni, Previa Health
Hala Mobility is part of a growing ecosystem that recognizes the importance of reducing transportation's environmental impact while improving mobility options for urban dwellers. The company’s continued innovation in the EV space positions it as a leader in this rapidly evolving market.
