Hala Mobility secures INR 12.25 crore funding

Hala Mobility, an EV-as-a-service platform, has raised INR 12.25 crore through a mix of equity and debt after appearing during the premiere week of Bharat Ke Super Founders, an entrepreneurial reality series streaming on Amazon MX Player. The funding was led by Recur Club, with participation from Nazara Technologies CEO Nitish Mittersain, Dr Aarti Gupta of Anikarth Ventures, Dr A. Velumani of Thyrocare, Aditya Singh of All In Capital, and Pranav Mahajani of LetsVenture.

During the episode, Hala Mobility presented its EV-as-a-service model and FOCO (Franchise Owned, Company Operated) structure. Panel members discussed aspects related to operations, scalability, and unit economics. Co-founders Srikanth Reddy Kalakonda and Snehith Reddy Meda addressed these points with data on business performance and market approach. Following these discussions, investors made funding offers to the company.

According to the company, the capital raised will be used to support expansion plans driven by its HELIX framework and FOCO model. The HELIX framework covers multiple aspects of the EV value chain, including manufacturing, operations, analytics, and recycling. Hala Mobility stated that it expects revenues to increase from ₹22 crore in FY 2024–25 to ₹92 crore in FY 2025–26. During the same period, the company plans to expand its fleet from 3,000 to 9,000 vehicles, increase its presence from 6 to 9 cities, and grow its workforce from 106 to 292 employees.

Hala Mobility reported that it has supported more than 25,000 drivers to date through its platform. The company also stated that its EV fleet contributes to reduced fuel consumption and lower emissions within the logistics segment.

Srikanth Reddy Kalakonda, Co founder and CEO of Hala Mobility said, “Our journey at Hala Mobility has always been about more than just electric vehicles; it is about creating access and dignity for the people who power India’s economy. The negotiation on stage was a testament to our team’s conviction. We are honored that the tycoons recognized our vision and chose to back us as we scale to 100,000 vehicles and beyond.”

Also read: Hala Mobility secures INR 1 crore debt funding from Perpetuity Capital