Unacademy co-founders Gaurav Munjal and Roman Saini are raising Longshot Capital, a ₹700 crore deep-tech fund
Unacademy co-founders are reportedly raising a ₹700 crore fund for early-stage AI, manufacturing, space, defence and robotics. Reported commitments and a January 2027 first-close target remain fundraising plans.
Two of India's best-known edtech founders are moving into deep-tech investing. Unacademy co-founders Gaurav Munjal and Roman Saini are raising Longshot Capital, a ₹700 crore venture fund that will back early-stage start-ups in AI, manufacturing, space, defence and robotics, according to reports published on 26 October 2026.
The fund
Elets CIO reports that Longshot Capital is structured as a Category II Alternative Investment Fund (AIF), the SEBI category used by most Indian venture capital and private equity funds. Reports say it plans to back 25 to 28 start-ups at the seed and pre-Series A stages.
The key numbers reported so far:
- Target size: ₹700 crore.
- Commitments: about ₹250–300 crore secured.
- First close: targeted for January 2027.
- Cheque size: an initial $500,000 to $1.5 million per company.
- Ownership target: 8–12 per cent stakes.
Saini will run the fund full-time, while Munjal will stay involved part-time alongside his role at Unacademy. Both will be general partners. The fund builds on the pair's angel investing, which reports put at more than ₹25 crore across over 200 investments.
One caveat matters. Some reports describe the fund as launched, while others say it is still being raised and not formally announced. Its size, timeline and fundraising progress could still change before the first close.
Who is behind it
Munjal and Saini co-founded Unacademy with Hemesh Singh. It grew into one of India's largest online learning companies before the edtech sector went through a sharp downturn after the pandemic. Saini, a doctor who cleared the civil services examination before leaving to build Unacademy, has long been the company's public face for its exam-preparation content.
Moving from building a consumer internet company to backing hardware-heavy deep tech is a big shift. It reflects how much the centre of gravity in Indian venture capital has moved over the past two years.
Why the timing makes sense
What it means for founders
For founders in AI, robotics, space and defence, Longshot adds another domestic source of early capital, with founders as investors who have built and scaled a company in India. A portfolio of 25–28 companies also suggests a concentrated approach, with enough money held back for follow-on rounds.
The harder question is whether a fund led by consumer internet founders can judge hardware risk well. Deep-tech bets usually take longer to mature, depend on government buyers and certification, and need technical due diligence that differs from consumer apps. How Longshot builds its team and advisory bench will be worth watching as it moves towards its first close.