Manav Garg has launched a new agentic commerce startup, and Flipkart co-founder Sachin Bansal is in discussions to invest $20-30 million in the venture.
Garg is looking to raise around $100 million as initial capital for the company, with talks under way with other investors as well. The venture has no public name or product yet, and neither founder has commented on it in public so far.
Agents that shop on your behalf
Agentic commerce lets an AI agent handle parts of a shopping trip for a person, from finding a product to placing the order. The idea has moved fast from demo to real money in the past few days.
OpenAI launched ChatGPT Wallet on 13 November, letting its dots agents pay for purchases with a token instead of a customer card. Garg’s venture lands in the same week, and it bets that stores will need to be rebuilt for agent shoppers.
Garg returns to building
Garg founded enterprise software company Eka Software in 2004 and ran it for two decades before STG acquired it in 2024. He then moved into venture investing and co-founded Together Fund in July 2021 with Freshworks founder Girish Mathrubootham, Shubham Gupta and Lakshmi Narayanan.
Together Fund raised an $85 million first fund and a $150 million second fund, both aimed at AI-first startups from India. Garg also co-founded SaaSBoomi, the community for Indian SaaS founders that is now called AIBoomi.
In June 2026 he returned to an operating role as executive chairman of Emergent, the vibe-coding startup founded by Mukund and Madhav Jha. He continues as chairman of Emergent’s board, and he was an early investor in Emergent, Composio and RapidClaims.
Emergent has raised about $100 million from investors including Khosla Ventures, Prosus, Lightspeed Venture Partners, Y Combinator and SoftBank Vision Fund. The company says its annualised revenue run rate crossed $100 million within eight months of launch.
Why Bansal’s backing matters
Bansal co-founded Flipkart in 2007 and left before Walmart bought the company in 2018. Months later he founded fintech firm Navi with Ankit Agarwal, and he now serves as its executive chairman after stepping down as chief executive in February 2025.
Navi raised $100 million from Prosus in August 2026 in its first institutional funding round, and the competition regulator cleared the investment in October. Prosus is also an investor in Emergent, so it already sits on both sides of this new partnership.
Bansal is expected to advise Garg on commerce strategy while Garg leads on the AI side of the business. That split plays to what each founder is known for, large-scale consumer commerce on one side and enterprise AI on the other.
What is still unknown
No product details, launch date or company name have been shared in public yet. The $100 million target is also not a closed round, since the final size will depend on how much other investors commit.
For now the story is a signal rather than a product. Two founders with long track records are betting that the next store will be built for AI agents, not only for people browsing on a phone.
