Unacademy founders plan AI fund; Flipkart’s premium push

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Happy Monday! Unacademy’s founders are raising a fund focused on AI and deeptech. This and more in today’s ETtech Morning Dispatch. Exclusive: Unacademy founders Gaurav Munjal, Roman Saini plan Rs 700 crore AI, deeptech fund Gaurav Munjal and Roman Saini at the ET Startup Awards 2026 in Bengaluru Unacademy founders Gaurav Munjal and Roman Saini are raising a Rs 700-crore venture capital fund focused on AI and deeptech startups, less than two months after upGrad acquired the edtech company, people in the know told us.

Fundraising: Named Longshot Capital, the fund has secured commitments of about Rs 300 crore and is targeting its first close in January 2027, following which it plans to start investing. Who's running it: Saini will lead the fund full-time, while Munjal, who continues to head Unacademy, will be involved part-time.

The plan: Longshot aims to back 25-28 seed and pre-Series A startups with initial cheques of 500,000-1.5 million, focusing on AI, manufacturing, space, defence and robotics. The bigger picture: The two have made over 200 angel investments, deploying more than Rs 25 crore.

Their move follows other startup founders, including Snapdeal's Kunal Bahl and Rohit Bansal, setting up investment funds. Eloelo in talks to raise $50-60 million at $400 million valuation Live social entertainment platform Eloelo is in advanced stages of closing a $50-60 million (about Rs 480-580 crore) funding round led by Hornbill Capital, with participation from existing investors, at a valuation of around $400 million, according to people familiar with the development.

Past funding: Eloelo raised $13.5 million in April 2025 in a round led by Play Ventures, taking total funding above $50 million. It previously raised $22 million from Courtside Ventures and Griffin Gaming Partners in 2023 and $13 million in 2022.

Competition: Eloelo faces competition from Kuku TV, QuickTV and DashReels, while Flipkart and Pocket FM have also moved into the short-drama segment. Flipkart plans to launch ‘Earth’ to tap demand for premium, sustainable products Walmart-backed Flipkart is planning to launch Flipkart for Earth, a premium line focussed on environmentally friendly products, according to people in the know.

The company has started onboarding brands offering healthier, toxin-free, and sustainable products across beauty and personal care (BPC), snacks and beverages, home decor, fashion, appliances, and other categories. Quick commerce push: If introduced on Minutes, Flipkart for Earth could compete with Swiggy Instamart’s Switch, which features around 400 brands across categories.

The push towards premium, sustainable, and health-focussed products in quick commerce has gathered pace following the launch and expansion of FirstClub, which offers premium grocery and farm products.