Mahindra Last Mile Mobility hits $1.13bn valuation ahead of planned 2027 IPO
Mahindra’s electric three-wheeler arm has raised $33 million from Lightrock, IFC and India-Japan Fund, reaching unicorn status. The company, which holds about 40% of India’s L5 electric three-wheeler segment, is targeting an IPO in the second half of 2027.
Mahindra Last Mile Mobility raised $33 million from Lightrock, IFC and India-Japan Fund at a $1.13 billion valuation, becoming an EV unicorn. The electric three-wheeler market leader plans an IPO in the second half of 2027.
Why this matters
Mahindra Last Mile Mobility’s $1.13bn valuation follows its recent ₹322 crore funding-round signal, indicating continued investor backing for its electric three-wheeler business ahead of an IPO.
Retail-company signals are accelerating, up +254280% QoQ.