M2P raises Rs 100 crore debt from Alteria to fund AI expansion

The three-year facility — M2P’s second debt raise — will largely finance AI product development and computing capacity, cofounder and chief executive Madhusudanan R told ET. This includes token consumption, or the expense incurred when AI models process information, he said. A small portion will be used to refinance higher-cost debt raised in 2023. Madhusudanan declined to disclose the interest rate.