Economy · India
Mahindra's EV arm achieves unicorn status with new funding
Mahindra Last Mile Mobility (MLMM), the electric three-wheeler arm of Mahindra & Mahindra, has achieved unicorn status after raising capital in a funding round. The round was led by Lightrock and included participation from existing investors International Finance Corporation and India-Japan Fund. The company raised ₹322 crore, valuing it at over $1 billion. MLMM is reportedly on track for an initial public offering (IPO) in 2027.
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- Centre (2): Business Standard, Mint