Hala Mobility, a fast-emerging player in India’s electric vehicle (EV) industry, has raised INR 51 crore (approx. $6 million) in Pre-Series A funding. This round includes both debt and equity, supported by founders Srikanth Reddy and Snehith Reddy Meda, along with notable investors like Previa Health’s Phani Ramineni, Sarthy Angels, Bestvantage, and several high-net-worth individuals.
Key Highlights:
- New City Expansion: With this capital boost, Hala aims to expand its EV fleet to 10,000 electric vehicles by December next year and move into six more cities.
- EV-as-a-Service for the Gig Economy: Founded in 2020, Hala provides EV solutions tailored to gig and e-commerce sectors, managing vehicles, batteries, and drivers through an efficient app.
- Eco Impact: Currently operating 3,000 EVs across Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur, Hala has reduced carbon emissions by 4,000 metric tonnes and saved 2 million liters of fuel.
- Smart Fleet Management: Hala’s app, powered by machine learning, ensures optimal EV distribution by matching vehicle and battery types to high-demand locations, enhancing efficiency.
Big Picture: Growth & Green Mobility
With India’s EV market projected to hit $110 billion by 2029, Hala Mobility is at the forefront of this green transition. It provides a comprehensive EV-as-a-Service platform that meets demand while promoting sustainable urban mobility.
CEO’s Insight
Srikanth Reddy, Hala’s co-founder, highlighted the importance of this funding for expanding eco-friendly transport options across India, with a vision to make Indian cities greener and less polluted.
What’s Next?
With its robust expansion plans, Hala Mobility is positioned to play a critical role in India’s EV journey, contributing to a cleaner, more sustainable transportation future.
