Business · Companies · 8 hrs ago
Unacademy Cofounders Seek ₹700 Crore for AI and Deeptech Fund
Unacademy cofounders Gaurav Munjal and Roman Saini are raising a ₹700 crore fund called Longshot Capital to invest in startups.
The Bengaluru-based fund plans to back 25 to 28 early-stage companies in AI and deeptech fields, including manufacturing, space, defence and robotics.
It has secured commitments of about ₹250 crore to ₹300 crore and is targeting its first close in January 2027.
The fund plans initial investments of $500,000 to $1.5 million in India-based startups and companies founded by entrepreneurs of Indian origin.
Saini will run the fund full-time, while Munjal will take a part-time role alongside leading Unacademy.
Its 10-to-11-year lifespan is designed for technologies that take longer to develop, and it plans to invest its capital over three years.
The fund follows the founders’ more than a decade of angel investing and comes after upGrad acquired Unacademy in an all-stock deal.
Unacademy cofounders Gaurav Munjal and Roman Saini are raising ₹700 crore for Longshot Capital, a fund focused on AI and deeptech startups.
The fund has secured commitments of around ₹250 crore to ₹300 crore and is targeting its first close in January 2027.
It plans to invest in 25 to 28 early-stage startups, with initial cheques of $500,000 to $1.5 million.
Its investment areas include AI, manufacturing, space, defence and robotics.
Saini will run the fund full-time, while Munjal will be involved part-time alongside his role heading Unacademy.
- Who
- Unacademy cofounders Gaurav Munjal and Roman Saini.
- What
- They are raising ₹700 crore for Longshot Capital, a venture fund focused on AI and deeptech startups.
- When
- The fund is targeting its first close in January 2027.
- Where
- The Bengaluru-based fund plans to invest in India-based startups and companies founded by entrepreneurs of Indian origin.
- Why
- The fund aims to back AI and deeptech companies, including businesses with longer technology-development cycles.
This story does not have two clearly opposing sides.
Munjal and Saini invested in Superleap, an AI-native customer relationship management platform.
Reports said the founders were raising ₹700 crore for Longshot Capital.
The fund is targeting its first close.
- Fund target
- ₹700 crore
- Commitments secured
- Around ₹250 crore to ₹300 crore
- Planned investments
- 25 to 28 startups
- Initial cheques
- $500,000 to $1.5 million
- Target first close
- January 2027