Dunzo co-founder Kabeer Biswas officially announced the launch of his new AI concierge startup, named ‘M’, after securing ₹102 crore ($12.2 million) in a seed funding round.
The investment was led by Peak XV Partners (formerly Sequoia India) and saw participation from Blume Ventures and Cred founder Kunal Shah. This move marks Biswas’s return to the startup arena following the shutdown of Dunzo in January 2025.
1. What is ‘M’?
Biswas is pivoting from hyperlocal delivery to Agentic AI. ‘M’ is described as an AI-powered personal concierge designed to handle complex, real-world tasks that current chatbots cannot execute.
- Autonomous Action: Unlike ChatGPT, which primarily provides information, ‘M’ is built to act. It can autonomously book travel, negotiate service contracts, manage household billing, and coordinate local errands.
- Platform Agnostic: The startup is building a proprietary “action layer” that allows the AI to interact with existing websites and apps just as a human would, bypassing the need for official APIs.
- Target Audience: The initial rollout is targeting high-net-worth individuals and busy professionals in India’s Tier-1 cities before a planned global expansion to the U.S. and Singapore in late 2026.
2. The Founder’s “Second Act”
The launch of ‘M’ follows a turbulent 18 months for Biswas.
- Exit from Dunzo: After grappling with a severe cash crunch and an eventual write-off by Reliance Industries, Biswas briefly joined Flipkart in early 2025 to head their quick-commerce business, Minutes.
- Departure from Flipkart: He exited Flipkart in late 2025 to focus full-time on developing ‘M’, citing a desire to build in the “frontier AI” space rather than traditional e-commerce.
3. Comparison: The Dunzo Founders’ AI Pivot
Biswas is not the only Dunzo co-founder to move into AI. The “Dunzo Mafia” has become a significant force in the 2026 AI startup wave.
| Founder | New Startup | Focus | Funding to Date |
| Kabeer Biswas | ‘M’ | AI Concierge (Consumer) | ₹102 Crore (Seed) |
| Mukund Jha | Emergent | Vibe Coding (Developer) | $100 Million (Series B) |
| Dalvir Suri | Halius | AI Supply Chain (Enterprise) | ₹45 Crore (Pre-Seed) |
4. Market Context & Funding Climate
The ₹102 crore seed round for ‘M’ is one of the largest early-stage rounds in India this year, signaling high investor confidence in “repeat founders” despite the previous challenges at Dunzo.
- Peak XV’s Strategy: The investment aligns with Peak XV’s recent focus on “Agentic AI” startups that solve specific workflow problems rather than building general-purpose foundation models.
- IPO Path: Analysts suggest that Biswas has structured ‘M’ as a “lean” organization to avoid the high operational burn that ultimately led to Dunzo’s downfall.
