India’s next big e-commerce opportunity may not come from another shopping app. It could come from AI agents that understand what customers want, find the right products and eventually complete purchases on their behalf.
Two experienced Indian technology entrepreneurs are reportedly preparing to enter this emerging market.
According to an exclusive report by Moneycontrol, Flipkart and Navi co-founder Sachin Bansal is in discussions to invest $20 million to $30 million in a new agentic commerce startup being established by Manav Garg, the founder of Eka Software and co-founder of Together Fund.
Garg is reportedly targeting approximately $100 million in initial capital, with discussions underway with additional investors.
The development is significant because it brings together Bansal’s experience building a major e-commerce platform and Garg’s background in enterprise software and artificial intelligence.
But the bigger story is the market they are entering. As AI agents begin changing how people discover products and make purchasing decisions, the infrastructure of traditional e-commerce could face a major transformation.
For Indian founders, this could create opportunities across AI applications, payments, retail technology and digital commerce infrastructure.
What Happened?
According to Moneycontrol’s November 13 report, Manav Garg has stepped down from his executive chairman role at AI software startup Emergent to establish a new agentic commerce company.
Sachin Bansal is reportedly discussing an investment of $20 million to $30 million (approximately ₹190 crore to ₹280 crore) in the venture.
Garg is aiming to raise around $100 million (approximately ₹950 crore) as initial capital. Discussions with other potential investors are reportedly underway.
Bansal is also expected to contribute beyond financing by advising Garg on commerce strategy and important business decisions.
The proposed partnership combines two complementary areas of experience:
- Sachin Bansal: E-commerce, consumer technology and large-scale business building.
- Manav Garg: Enterprise software, AI investments and technology entrepreneurship.
However, there is an important distinction: the proposed investment is not confirmed as completed funding. The final funding amount and structure remain undecided.
The startup’s name, product details, launch timeline and precise business model have also not been publicly disclosed.
Company Background: Two Entrepreneurs With Different Strengths
The proposed venture is particularly interesting because of the professional backgrounds of its founders and backers.
Sachin Bansal: From Flipkart to the Next Commerce Opportunity
Sachin Bansal Explores Second Inning In Fintech And Agritech
Sachin Bansal
Bansal co-founded Flipkart with Binny Bansal in 2007. After Walmart acquired a majority stake in Flipkart in 2018, he moved into financial services by establishing Navi.
Through Navi, Bansal entered digital lending, payments, insurance and investment services.
His experience building Flipkart is especially relevant to this new opportunity. He understands the challenges of customer acquisition, merchant relationships, technology infrastructure and scaling an online commerce business.
Navi also secured a $100 million investment from Prosus in August 2026, demonstrating continued institutional investor interest in Bansal’s fintech business.
His potential investment in Garg’s new company suggests an interest in applying his commerce experience to the emerging AI economy.
