Hala, a ride-sharing platform that uses electric vehicles, has raised $1 million in a funding round led by Magnifiq Securities. The start-up addresses the problems of last-mile connectivity, pollution and traffic congestion.
“The fresh funds will be used to increase the number of electric vehicles in the fleet, improve infrastructure for swapping and to research and develop new product offerings,” a company statement said.
Hala Mobility was a part of T-Hub’s Lab32 and T-Angel cohort, which connected them with angel investor networks and others.
“We have so far covered 8 million green kilometres, saving 717 tonnes of carbon dioxide emissions and three-lakh litres of petrol and doing 32,000 battery swaps a month,” Srikanth Reddy, Founder and Chief Executive Officer of Hala, said.
The start-up which started operations in 2020, has centers across Mumbai, Vizag, Pune, Hyderabad and Chennai.