India, April 22 -- Former Dunzo cofounder Kabeer Biswas' new startup, M, is looking to net Rs.102 Cr (about $11 Mn) from Peak XV Partners, Blume Ventures and fintech unicorn CRED in its seed funding round.

As per MCA filings accessed by Inc42, Peak XV Partners led the funding round with a Rs.46.4 Cr investment. While Blume Ventures invested Rs.37.1 Cr, CRED poured in the rest of Rs.18.6 Cr.

The startup will be issuing about 55K Series Seed CCPS to the aforementioned investors to net the funds. Of the total amount, the startup has already raised Rs.83.5 Cr.

After the allotment, Peak XV will hold 15.5% in the company. Blume Ventures and CRED will own 12.4% and 6.2%, respectively. Biswas and Mishra hold 3.1% each, while a large portion-38...