Mumbai: Mahindra Last Mile Mobility (MLMML) achieved unicorn status after raising about ₹322 crore in a funding round led by global impact investor Lightrock at a valuation of ₹10,822 crore.The Mahindra and Mahindra subsidiary manufactures electric, CNG, petrol, diesel three and four-wheeler passenger and cargo vehicles.The round also saw participation from existing investors International Finance Corporation (IFC) and the India-Japan Fund (IJF), managed by the National Investment and Infrastructure Fund (NIIF), underscoring rising investor appetite for India's rapidly expanding electric commercial vehicle market.
Mahindra Last Mile turns unicorn with ₹322 cr raise
Mahindra Last Mile Mobility has achieved unicorn status after a recent funding round. The company secured approximately ₹322 crore, valuing it at ₹10,822 crore. Global investor Lightrock led this significant funding round for the company. Existing investors International Finance Corporation and India-Japan Fund also participated.
TL;DRAI
Mahindra Last Mile Mobility reaches unicorn status with ₹322 crore raise (Lightrock-led) manufacturing EV commercial vehicles. Growing investor appetite for India's commercial EV market signals localization of supply chain and competitive opportunity in sustainable mobility.
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