Exploring Unacademy Founders’ AI Fund, Paar Autonomy’s Drone Tech and Eloelo’s Big Raise

India’s startup funding news this week spans three very different updates: artificial intelligence, defence drones and mobile entertainment. Unacademy co-founders Gaurav Munjal and Roman Saini are planning a new fund, Paar Autonomy has raised Rs 10 crore, and Eloelo is reportedly in talks to raise up to $60 million.

The plans show how investors are looking at both deep technology and consumer apps. The amounts are substantial, but each story is at a different stage: one fund is still being raised, one investment has been announced, and one funding round is still under discussion.

Unacademy founders plan a Rs 700 crore AI and deep-tech fund

Gaurav Munjal and Roman Saini are raising a Rs 700 crore venture fund called Longshot Capital, according to a report by Newsbyte. The fund is intended to back startups working in artificial intelligence and deep technology. It has reportedly secured commitments of about Rs 300 crore and is targeting an initial close in January 2027. The fundraising target and timing may change.

The fund could give early-stage founders access to capital for ambitious technology projects. For example, a team building specialized AI software or advanced engineering hardware may need funding well before it can earn steady revenue. A dedicated fund could help support that early work, though its investment plans and final size are still taking shape.

Munjal and Saini co-founded Unacademy, an education technology company established in 2015. Their proposed fund marks a move into investing in other startups after their time building the learning platform.

Paar Autonomy raises Rs 10 crore for GPS-independent drone navigation

Bengaluru-based Paar Autonomy has raised Rs 10 crore in a round led by AdvantEdge Founders, according to the Ascendants. Founded in 2024 by Vignesh Sivaram Jayaraman, the startup develops camera systems and AI software for drones and other unmanned vehicles.

The funding is intended to help expand production of its camera systems and develop navigation technology that can work without GPS. This matters in places where satellite signals can be disrupted. A drone that can use cameras and other sensors to understand its surroundings may be better equipped to continue operating when GPS is unavailable.

Paar’s focus is on the systems that help unmanned vehicles “see” and navigate, rather than on building a complete drone. That makes it a specialist supplier in a field that also includes drone makers and companies developing alternative navigation systems. Its progress will depend on how well its equipment performs in real-world conditions and whether it can move from development to repeat orders.

Eloelo is reportedly seeking $50–60 million

Bengaluru-based Eloelo is in advanced talks to raise $50–60 million at a reported valuation of about $400 million, with Hornbill Capital expected to lead the round,  as per ET. The talks are not the same as a completed deal, so the amount and terms could still change.

Founded in 2020 by Saurabh Pandey, Eloelo began as a live social entertainment platform. Its business now includes Story TV, which offers short, mobile-friendly dramas. The reported funding interest follows fast growth in this part of the company, according to people cited in the report.

If completed, the capital could help Eloelo expand its content business and compete for viewers in a crowded market. Rivals in short-form and mobile entertainment include Kuku, Pocket FM and other apps building audiences around short stories, serialized shows and creator-led content. The challenge is to keep viewers returning while making the cost of producing and promoting content pay off.

Three different bets on growth

These stories point to three distinct ideas about where Indian startups may find opportunity. Longshot Capital would invest in companies building new technology. Paar Autonomy is developing tools for drones to operate when satellite navigation is unreliable. Eloelo is betting that audiences will spend more time with short, mobile-first entertainment.

The funding figures also need context. The Unacademy founders’ fund is still being raised, Paar’s round has been reported as secured, and Eloelo’s proposed round remains under discussion. For founders and investors, the next signs to watch are whether Longshot reaches its first close, Paar wins larger deployments, and Eloelo turns its reported audience growth into a completed fundraise and lasting business growth.

Disclaimer
Funding details for Longshot Capital and Eloelo are based on media reports and may change. Eloelo’s proposed round has not been confirmed as completed. This article is for general information and is not investment advice.