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Mahindra Last Mile Mobility (MLMML) raised INR 322 crore in a funding round led by Lightrock, with participation from IFC and IJF, to enhance its leadership in the electric vehicle sector.
PRIVATEJul 31, 2026•9 days ago
Amount Raised
₹3.22 Billion
Round Type
Venture - Series Unknown
TransportationAutomotiveElectric Vehicle
Investors
India Japan FundInternational Finance CorporationLightrock
Description
Mahindra Last Mile Mobility Limited (MLMML) has raised INR 322 crore led by Lightrock. This funding is a testament to the investor confidence in the electrification of the last-mile mobility segment. The company aims to deploy 1 million EVs on Indian roads by 2031, expanding its market share in the L5 3W category.
Company Information
Company
Mahindra Last Mile Mobility Limited
About
Mahindra Last Mile Mobility Limited (MLMML) is Mahindra & Mahindra Ltd.'s last-mile mobility business. The company focuses on electric 3-wheelers and has achieved significant growth in the electric vehicle (EV) segment in India. MLMML holds a 40% market share in the L5 3W category and aims to contribute to the deployment of 1 million EVs on Indian roads by 2031.
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