Hala Mobility raises Rs 51 Cr in pre-Series A round

EV-as-a-Service platform Hala Mobility has raised Rs 51 crore (around $6 million) in its pre-Series A round 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.

The proceeds will be used to ramp up Hala Mobility’s EV fleet and expand its footprint to six additional cities across India, the company said in a press release. The firm 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.

Founded in 2020 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility 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. 

The Hyderabad-based startup is 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. 

Hala claims to have 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.

In May 2022, T-Hub incubated Hala Mobility raised $1 million in a pre-seed round from Magnifiq Securities. Earlier this year, the firm also raised Rs 1 crore in debt from Perpetuity Capital.