The Economic Times reported that Unacademy co-founders Gaurav Munjal and Roman Saini are seeking Rs 700 crore for an artificial intelligence fund aimed at early-stage technology companies.
The proposed vehicle, Longshot Capital, had secured commitments of about Rs 300 crore toward its target, the report said. It planned to begin investing after an initial close. Fundraising talks were continuing, leaving the amount sought and the timetable subject to change, according to the outlet.
Longshot aims to back 25 to 28 seed and pre-Series A companies in AI, manufacturing, space, defence and robotics. The report said Saini was expected to run the fund full time, while Munjal would take a part-time role and continue leading Unacademy. It also said the pair had made more than 200 angel investments, deploying over Rs 25 crore. The Economic Times placed the fund effort less than two months after upGrad acquired Unacademy and cited Snapdeal co-founders Kunal Bahl and Rohit Bansal as an earlier example of startup founders establishing an investment fund.
Separately, ETtech Morning Dispatch, a newsletter published by The Economic Times, reported that Flipkart was onboarding brands for a premium line called “Flipkart for Earth.” The categories included beauty and personal care, snacks and beverages, home decor, fashion and appliances. The newsletter said a possible launch through Flipkart Minutes could put the line in competition with Swiggy Instamart’s Switch, which it described as having about 400 brands. Industry experts cited in the newsletter said premium offerings could raise order sizes and average order values, while repeat purchases would matter for sustained growth.
Flipkart announced a separate online store, Flipkart Green, in January 2023. The company said it offered more than 30,000 sustainable products from over 40 brands. That earlier store does not confirm the newly reported line; neither proposal was confirmed by a company announcement among the sources reviewed.
Longshot’s next reported milestone is a targeted first close in January 2027.
