Kabeer Biswas is once again making headlines with a new startup after the shutdown of his earlier company. He is now working on a consumer-focused AI startup called ‘M’ and is reportedly raising around ₹102 crore. The funding round is being led by Peak XV Partners, along with support from Blume Ventures and CRED.
This new venture shows Biswas’s return to the startup world, but this time with a focus on artificial intelligence. While the exact product is not yet known, the company is expected to build AI-based solutions for everyday users.
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What Went Wrong with Dunzo
Biswas earlier co-founded Dunzo, which became quite popular for its quick delivery and task services in cities like Bengaluru. The company grew fast and raised a lot of funding over the years.
However, things started going wrong when Dunzo shifted towards quick commerce, which needed heavy spending. The company was reportedly burning over ₹100 crore every month and ended up with losses of around ₹1,800 crore in FY23. Even after receiving $200 million from Reliance Industries in 2022, the business could not survive. The situation became worse with salary delays and operational issues. In the end, Reliance wrote off its ₹1,645 crore investment, and Dunzo shut down in early 2025.
Kabeer Biswas Partners to Build AI Startup ‘M’
After Dunzo closed, Biswas joined Flipkart to lead its quick commerce service, Flipkart Minutes. But he left the role within a year in October 2025.
Now, he has partnered with Kartik Mishra, who also worked at Dunzo, to build ‘M’. With strong investor backing and a fresh idea, the startup aims to enter the growing AI market in India. For Biswas, this is a fresh start. After facing failure with Dunzo, his new AI venture could be a chance to build something more stable and future-ready in India’s fast-changing startup space.