Hala Mobility, a multi-modal EV ride-sharing platform, has secured INR 1 crore from EV finance platform Perpetuity Capital to bolster their fleet expansion efforts. Additionally, Hala Mobility has forged a strategic partnership with Perpetuity Capital to finance an additional 500 Electric 2W vehicles over the next year. This collaboration aims to facilitate direct funding for last-mile delivery drivers and gig economy workers seeking to acquire electric vehicles for commercial use.
With an existing fleet of over 2,500 Electric 2-wheelers on their last-mile logistics platform, facilitating over 40,000 deliveries daily, the funding infusion will enable Hala Mobility to augment its fleet size and venture into new geographical territories.
Expressing enthusiasm about the partnership, Karamveer Dhillon, Founder of Perpetuity Capital, stated, “We are thrilled about our collaboration with Hala Mobility. Our joint efforts will integrate our technological infrastructure, empowering gig economy workers to access quicker EV loans and address their evolving credit requirements.”
Srikanth Reddy, Founder and CEO of Hala Mobility, emphasized the significance of the partnership with Perpetuity Capital, stating, “As we witness the transformative potential of electric mobility, our alliance with Perpetuity Capital represents a pivotal milestone in our mission to revolutionize last-mile logistics. With this capital injection, we are well-positioned to not only expand our fleet but also empower more drivers to adopt sustainable transportation solutions.”
