Mahindra Last Mile turns unicorn with ₹322 cr raise

Mumbai: 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 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.