Flam Bags $40 Mn To Offer Immersive Content To Enterprises

AI-powered content platform Flam has secured $40 Mn (approximately ₹383 Cr) in its Series B funding round led by QED Investors. The round saw participation from notable investors such as Shah Rukh Khan’s family office, Claypond Capital, Australian Gulf Capital, Martin Chavez, Olivier Pomel, RTP Global, and Dovetail. Flam cofounder Shourya Agarwal confirmed that a small portion of the round comprised secondary capital, though the exact size remained undisclosed.

The fresh capital will be allocated towards enhancing research and development in AI models, expanding the product lineup, and enhancing the interactive content format. Flam, founded in 2021 by Shourya Agarwal, Malhar Patil, and Amit Gaiki, initially offered mixed reality (MR) content online. The startup is now developing an AI-driven interactive content platform catering to diverse sectors like marketing, product visualization, entertainment, and customer engagement.

Flam claims to have built its technology stack, including its AI model and products, in-house. Presently, the startup serves more than 100 customers, including Google, Reliance, and Hyundai, and holds over 15 patents. The latest funding round follows a $14 Mn Series A round led by RTP a year ago. Post the Series A, Flam widened its international presence, with the US and Japan emerging as key overseas markets.

Currently, over 50% of Flam's revenue originates from outside India, with the company anticipating this share to increase as it scales globally, leveraging the growing enterprise marketing investments in markets like the US and Japan. Flam aims to achieve $100 Mn in annual recurring revenue (ARR) within the next year. The funding comes at a time when mixed reality is gaining traction as D2C and e-commerce firms leverage augmented reality (AR) and extended reality (XR) products to market their offerings and engage their audience.

Notably, in June, omnichannel eyewear giant Lenskart increased its stake in XR platform AjnaLens to 9.01%. In April, AR/VR training provider AutoVRse raised $2.4 Mn in a round led by Singularity AMC and Lumikai, while immersive digital experience startup Ctruh secured $2.5 Mn in its seed round led by Inflection Point Ventures and Avinya Ventures. The Indian AR and VR market is projected to become an $11 Bn opportunity by 2031.