Mahindra & Mahindra on Thursday said its electric three-wheeler arm, Mahindra Last Mile Mobility Ltd. (MLMML), has attained unicorn status after raising about ₹322 crore in a funding round led by global sustainable investment firm Lightrock, with existing investors International Finance Corporation (IFC) and India-Japan Fund (IJF) also participating.The funding values MLMML at ₹10,822 crore. “This investment brings us closer to our goal of deploying 1 million EVs on Indian roads by 2031,” Group CEO & MD Anish Shah said. MLMML commands around 40 per cent of the L5 electric three-wheeler market and reported 85 per cent year-on-year volume growth in the June quarter.Published on July 31, 2026
Mahindra Last Mile Mobility becomes unicorn after ₹322 crore Lightrock-led funding
Mahindra Last Mile Mobility raised ₹322 crore in a Lightrock-led funding round, achieving unicorn status with a ₹10,822 crore valuation.
TL;DRAI
Mahindra Last Mile Mobility reaches $1.3B valuation with ₹322 crore funding, capturing 40% of India's e-three-wheeler market with 85% YoY growth. The milestone signals India's EV logistics boom is reshaping demand for fleet management, carbon compliance, and autonomous systems—critical software stack decisions ahead.
108 words~1 min read
