Mahindra Last Mile Mobility hits unicorn valuation after ₹322 crore Lightrock-led round
Mahindra Last Mile Mobility has raised ₹322 crore in a Lightrock-led funding round, valuing the electric commercial-vehicle business at ₹10,822 crore. The company is targeting an IPO in the second half of 2027 and 1 million EVs on Indian roads by 2031.
Mahindra Last Mile Mobility raised ₹322 crore in a Lightrock-led round, reaching a ₹10,822 crore unicorn valuation. India’s leading electric commercial-vehicle maker plans an IPO in H2 2027 and aims to place one million EVs on Indian roads by 2031.
Why this matters
No prior related signals were provided. The Lightrock-led round gives Mahindra Last Mile Mobility capital and a unicorn valuation ahead of its stated 2027 IPO target and 2031 EV deployment goal.
Retail-company signals are accelerating, up 254060% quarter over quarter.