Mahindra Last Mile Mobility becomes a unicorn, targets H2 2027 IPO
Mahindra Last Mile Mobility has raised $33 million in fresh equity from Lightrock, IFC and India-Japan Fund at a $1.13 billion valuation. Mahindra’s electric three-wheeler arm plans an IPO in the second half of 2027 as it targets 1 million EV deployments in India by 2031.
Mahindra Last Mile Mobility raised $33 million from Lightrock, IFC and India-Japan Fund at a $1.13 billion valuation. The electric three-wheeler business plans an H2 2027 IPO, while Mahindra targets deploying 1 million EVs on Indian roads by 2031.
Why this matters
The funding and IPO plan build on the recent signal that Mahindra Last Mile Mobility hit unicorn valuation and targeted a 2027 IPO, reinforcing its capital-market path.
Retail-company is accelerating, up 254260% QoQ.