Unacademy co-founders Gaurav Munjal and Roman Saini are raising ₹700 crore for Longshot Capital, a proposed venture capital fund focused on artificial intelligence and deep technology startups. The fund aims to back early-stage companies across AI, robotics, defence, space and advanced manufacturing.
Longshot Capital Targets ₹700 Crore for Startup Investments
Unacademy co-founders Gaurav Munjal and Roman Saini are planning a ₹700 crore venture capital fund to invest in artificial intelligence (AI) and deep technology businesses. Named Longshot Capital, the proposed fund marks a new phase in their investment activities following their experience building an education technology company.
According to a report published by The Economic Times on October 26, 2026, Longshot Capital has secured commitments of approximately ₹300 crore towards its target. The fund is aiming for its first close in January 2027, after which it plans to begin investing. The final fundraising amount and timeline remain subject to change.
The fund intends to support startups at the seed and pre-Series A stages. These are early phases of a company’s development, when businesses typically need capital to build products, validate their technology, recruit teams and establish commercial operations.
The proposed fund reflects investor interest in technology businesses that may require substantial research, engineering and development before reaching commercial scale.
AI and Deeptech Form the Core Investment Strategy
Longshot Capital is expected to focus on AI-led businesses and deep technology sectors, including robotics, space technology, defence and manufacturing. These industries involve technologies that can take considerable time and investment to develop, test and commercialise.
Artificial intelligence has applications across software, enterprise operations, industrial automation and data processing. Deeptech, meanwhile, includes businesses built around substantial scientific or engineering innovation. Examples include advanced robotics, aerospace systems, specialised manufacturing technologies and defence equipment.
The fund reportedly plans to invest in 25 to 28 startups, with initial investments ranging from $500,000 to $1.5 million per company. This strategy would allow Longshot Capital to build a portfolio of early-stage businesses rather than concentrating its capital in a small number of larger investments.
The proposed investment approach also recognises that different technology sectors have different growth timelines. A software startup may be able to release a product relatively quickly, while a robotics or aerospace company could need years of engineering, testing and regulatory approvals before generating significant revenue.
For investors, the challenge is to identify companies with promising technology, capable founders and a credible path to commercial adoption.
Why Deeptech Startups Need Patient Capital
Deeptech companies often face funding requirements that differ from those of conventional consumer internet businesses. Developing a product can involve specialised equipment, scientific research, prototypes, testing facilities and highly skilled employees.
These expenses can arise well before a company begins earning meaningful revenue. As a result, startups may need investors who understand longer development cycles and can support businesses through multiple stages of growth.
Consider a startup developing autonomous industrial robots. The company may first need to build a prototype, demonstrate that it works reliably, conduct trials with potential customers and adapt the product for different operating environments. Only after these steps may it be ready to manufacture at scale.
Space and defence businesses can face similar challenges because their products may require extensive testing and compliance with industry-specific regulations.
Longshot Capital’s proposed focus on early-stage AI and deeptech businesses places it in a segment where investment decisions require both financial judgement and an understanding of technical risk.
The fund’s reported 10 to 11-year lifespan could give it time to support companies through longer development cycles. However, a longer investment horizon does not remove the risks associated with technology development, customer adoption or competition.
How the Fund Plans to Deploy Its Capital
According to reporting by Inc42, Longshot Capital intends to deploy its investment capital over approximately three years. Its proposed portfolio would include startups operating in India as well as companies founded by entrepreneurs of Indian origin overseas.
The planned initial investment range of $500,000 to $1.5 million could help companies finance early product development, engineering teams, market testing and initial commercial expansion.
Longshot Capital is also expected to target ownership stakes of approximately 8% to 12% in its portfolio companies, according to the reported fund strategy. Actual investment terms may vary depending on the company, valuation and financing structure.
For founders, early-stage venture capital can provide more than money. Investors may also contribute industry connections, recruitment support, strategic guidance and introductions to potential customers.
However, accepting venture capital creates expectations around business growth and the eventual return on investment. Startups must balance the need to develop technology with the pressure to establish commercially viable products.
The proposed fund’s performance will therefore depend on its ability to select promising companies, support their development and help them reach meaningful commercial milestones.
Roman Saini and Gaurav Munjal’s Transition into Venture Capital
Munjal and Saini are already familiar with early-stage investing through their angel investment activities. According to Inc42, the two have collectively made more than 200 angel investments, deploying over ₹25 crore across startups.
Their reported investments include businesses such as Pine Labs, Dhan, Seekho, Ultrahuman, Snabbit and Third Wave Coffee. Angel investing generally involves individuals investing their own capital in young businesses, often before those companies raise larger institutional funding rounds.
Longshot Capital would represent a more structured approach to investing by pooling capital into a dedicated fund and following a defined investment strategy.
Under the reported arrangement, Saini is expected to manage the fund full-time, while Munjal will remain involved part-time alongside his responsibilities at Unacademy. Both are expected to serve as general partners.
The proposed structure would require them to evaluate investment opportunities, manage relationships with investors, monitor portfolio companies and make decisions about deploying capital.
Moving from angel investing to managing a venture capital fund also introduces additional responsibilities, including fund governance, portfolio construction and reporting to investors.
Unacademy Acquisition Provides Important Business Context
The proposed fund comes shortly after education technology company Unacademy was acquired by upGrad in an all-stock transaction reported to value the business at approximately ₹1,955 crore. The acquisition was completed in September 2026, according to Inc42.
Founded by Munjal, Saini and Hemesh Singh, Unacademy grew from an educational YouTube channel into a major online learning platform, particularly in competitive examination preparation.
The company benefited from increased demand for online education during the pandemic, attracting substantial investor funding. However, the reopening of educational institutions, changing consumer preferences and pressure to improve financial performance created challenges for the wider edtech industry.
Unacademy subsequently adjusted its operations, reduced costs and expanded into offline coaching as it pursued a more sustainable business model.
The proposed Longshot Capital fund represents a different business activity from operating an education platform. Rather than building and managing one consumer-facing company, the fund would invest in multiple businesses across technology sectors.
For startup founders, the development also illustrates how entrepreneurial experience can lead to new roles in the investment ecosystem. Founders who have managed product development, fundraising and business expansion may bring practical perspectives to early-stage investment decisions.
What Longshot Capital Could Mean for India’s Startup Ecosystem
A dedicated fund for AI and deeptech could create additional financing opportunities for startups working in technically demanding sectors. This is particularly relevant for businesses that need capital for engineering, prototyping and testing before they can attract large commercial customers.
The proposed focus on manufacturing, defence, robotics and space technology could also support companies working on technologies with applications beyond consumer software.
However, a ₹700 crore target should not be interpreted as money already invested in startups. The fund is still raising capital, and the amount ultimately available for investments will depend on the final commitments, fund expenses and other financial arrangements.
Its success will depend on the quality of its investment decisions and the performance of the companies it backs. Some startups may grow into commercially successful businesses, while others may struggle with technical problems, limited demand or competition.
For founders seeking funding, Longshot Capital could become another potential source of early-stage investment if the proposed fund reaches its target and begins deploying capital.
The broader significance lies in the growing role of experienced entrepreneurs in financing the next generation of technology companies. Whether this approach produces strong returns will become clearer as the fund builds its portfolio and its investments mature.
Key Takeaways
- Unacademy co-founders Gaurav Munjal and Roman Saini are raising ₹700 crore for the proposed Longshot Capital fund.
- Approximately ₹300 crore has reportedly been committed, with the first close targeted for January 2027.
- The fund plans to back 25 to 28 early-stage startups in AI, manufacturing, space, defence and robotics.
- Longshot Capital’s progress will depend on fundraising, investment selection and the ability of portfolio companies to commercialise their technologies.
Frequently Asked Questions
1. What is Longshot Capital?
Longshot Capital is a proposed venture capital fund being raised by Unacademy co-founders Gaurav Munjal and Roman Saini. It is intended to invest in early-stage AI and deeptech startups.
2. How much money is Longshot Capital planning to raise?
The fund is targeting ₹700 crore. Reports published in October 2026 indicate that approximately ₹250 crore to ₹300 crore had been committed, with a first close planned for January 2027. These figures and timelines may change.
3. Which sectors will Longshot Capital invest in?
The proposed investment strategy covers AI-led businesses and deeptech sectors such as manufacturing, space technology, defence and robotics. The fund intends to invest primarily in seed and pre-Series A companies.
4. Why is deeptech funding important for Indian startups?
Deeptech businesses often require substantial investment in research, engineering, specialised equipment and testing before generating revenue. Venture capital can help finance these activities and support companies as they develop commercially viable technologies.
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