Nazara Tech CEO, others invest ₹12.25 crore in EV firm Hala Mobility

Hala Mobility, an electric vehicle-as-a-service platform, on Thursday said it has raised Rs 12.25 crore in a mix of equity and debt funding. The round was led by Nitish Mittersain, chief executive officer of Nazara Technologies, and Aarti Gupta of Anikarth Ventures, and also saw participation from Thyrocare founder A Velumani, Aditya Singh of All In Capital, and Pranav Mahajani of LetsVenture. 

The company, which offers a wide range of electric vehicle (EV) options to rent, lease or buy, plans to use the funding to accelerate its growth plans. It expects its revenue to rise from Rs 22 crore in FY25 to Rs 92 crore in FY26, alongside fleet expansion from 3,000 to 9,000 vehicles. 

From six cities, the company also targets growing its operational footprint to nine cities, while increasing its team strength from 106 to 292 people. Founded in 2020, the firm is headquartered in Hyderabad, Telangana. 

“Our journey at Hala Mobility has always been about more than just EVs; it is about creating access and dignity for the people who power India’s economy. We are honoured that the tycoons (investors) recognised our vision and chose to back us as we scale to 100,000 vehicles and beyond,” said Srikanth Reddy Kalakonda, co-founder and chief executive officer of the platform. 

Nitish Mittersain, joint managing director and chief executive officer of Nazara, said: “Hala Mobility is solving a critical infrastructure challenge in India’s burgeoning gig economy. Their ability to integrate technology with a purpose-driven operational model is what sets them apart.”