Mahindra Last Mile Mobility reaches unicorn valuation after ₹322 crore funding round
Lightrock-led funding values Mahindra Last Mile Mobility at ₹10,822 crore. The electric three-wheeler maker, with about 40% of India’s L5 EV market, is targeting an IPO in the second half of FY27 and one 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. IFC and India-Japan Fund participated. The electric three-wheeler leader plans an IPO in H2 FY27 and targets one million EVs on Indian roads by 2031.
Why this matters
No related recent signals were provided. The ₹322 crore round adds capital behind Mahindra Last Mile Mobility’s planned H2 FY27 IPO and 2031 goal of one million EVs on Indian roads.
Retail-company signals are accelerating, up +254080% QoQ.