Mahindra Last Mile Mobility reaches unicorn valuation with ₹322 crore raise
Mahindra Last Mile Mobility has raised ₹322 crore from Lightrock, IFC and India-Japan Fund at a ₹10,822 crore post-money valuation. The electric three-wheeler maker will use the capital to accelerate deployment, with a target of 1 million EVs on Indian roads by 2031.
Mahindra Last Mile Mobility raised ₹322 crore from Lightrock, IFC and India-Japan Fund at a ₹10,822 crore valuation, attaining unicorn status. The EV three-wheeler maker plans to accelerate India deployment, targeting one million EVs on roads by 2031.
Why this matters
The raise reinforces recent signals that Mahindra Last Mile Mobility reached unicorn status and is targeting an H2 2027 IPO, while adding fresh capital for its EV deployment plans.
Retail-company signals are accelerating, up +254640% QoQ.