E-ride sharing platform Hala raises $1-M

Hyderabad-based Hala, a ride-sharing platform that uses electric vehicles, has raised USD 1 million in a funding round led by Magnifiq Securities. 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. The startup addresses the problems of last-mile connectivity, pollution and traffic congestion. Hala Mobility was a part of T-Hub's Lab32 and T-Angel cohort, which connected them with angel investor networks and others.