In a significant boost to India’s electric mobility sector, Hyderabad-based Hala Mobility has secured Rs 51 crore (approximately $6 million) in pre-Series A funding. The investment round saw participation from the company’s founders, Srikanth Reddy and Snehith Reddy, along with notable investors including Previa Health founder Phani Ramineni and various high-net-worth individuals through multiple investment syndicates.
The EV-as-a-Service platform, which currently operates a fleet of 3,000 electric two-wheelers, has announced ambitious plans to deploy 10,000 new electric vehicles by December 2025. This expansion aligns with India’s growing focus on sustainable urban mobility solutions and the increasing demand for eco-friendly last-mile delivery services.
Founded in 2020 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility has established itself as a crucial player in the electric mobility ecosystem by providing comprehensive EV solutions for e-commerce companies and gig workers. The platform’s success is evidenced by its partnerships with major players including Bigbasket, Zomato, and Zepto, demonstrating the growing adoption of electric vehicles in the delivery sector.
The company’s innovative approach includes a sophisticated app-based platform for EV, battery, and driver management, complemented by their unique S3 stations network. These stations serve as crucial hubs for demand and supply management, ensuring 95% uptime guarantee and round-the-clock service availability. Hala Mobility has also forged strategic partnerships with 13 scooter and eight battery manufacturers, creating a robust ecosystem for sustainable operations.
The fresh capital will fuel Hala’s expansion into six additional cities beyond its current presence in Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur. This expansion is particularly significant as it comes at a time when India’s gig economy is witnessing rapid growth, coupled with an increasing emphasis on sustainable transportation solutions.
For the Indian startup ecosystem, Hala Mobility’s funding success and expansion plans represent a growing confidence in the EV-as-a-Service model. The company’s approach to combining technology with sustainable mobility solutions offers a blueprint for other startups in the electric vehicle space, particularly those focusing on the commercial and gig economy segments.
The investment also highlights the maturing of India’s EV ecosystem, with investors showing increased interest in startups that offer practical solutions for the transition to electric mobility. This funding round, following their previous raises including a $1 million pre-seed round from Magnifiq Securities and Rs 1 crore in debt from Perpetuity Capital, demonstrates sustained investor confidence in the sector.
Looking ahead, Hala Mobility’s expansion could significantly impact India’s urban mobility landscape. As cities grapple with pollution and congestion issues, the company’s model of providing accessible, sustainable transportation solutions for the commercial sector could play a crucial role in accelerating the adoption of electric vehicles across India’s major urban centers.
