Mahindra Last Mile Mobility becomes unicorn after ₹322 crore funding round
Lightrock-led investment values Mahindra Last Mile Mobility at ₹10,822 crore. The electric three-wheeler maker says it holds about 40% of India’s L5 e-three-wheeler market and is targeting 1 million EVs on Indian roads by 2031.
Mahindra Last Mile Mobility became an EV unicorn after Lightrock-led funding of about ₹322 crore valued it at ₹10,822 crore. The Indian electric three-wheeler leader holds roughly 40% L5 share and targets deployment of 1 million EVs by 2031.
Why this matters
The funding follows recent signals that Mahindra Last Mile Mobility reached a $1.13 billion valuation ahead of a planned 2027 IPO and reported unicorn status after the ₹322 crore round.
Retail-company signals are accelerating, up +256180% QoQ.