AI-powered content platform Flam has raised $40 million in a Series B funding round led by QED Investors, the company announced on Tuesday. The round included participation from Claypond Capital, Martin Chavez, Olivier Pomel, Venky Harinarayan, actor Shah Rukh Khan, and existing investors RTP Global and Dovetail. Flam plans to use the funds to expand its product suite and scale enterprise sales globally, targeting $100 million in annual recurring revenue over the next 18-24 months.
The funding round comprised a mix of primary and secondary deals, with Flam cofounder Shourya Agarwal confirming a small portion of the capital was secondary, though he described it as insignificant. The fresh capital will be allocated to ramping up research and development of Flam’s AI models, expanding its product offerings, and introducing new configurations of its interactive content format. Flam aims to accelerate enterprise sales across existing and new markets as part of its growth strategy.
Founded in 2021 by Shourya Agarwal, Malhar Patil, and Amit Gaiki, Flam initially focused on enabling brands to publish mixed reality content online. It has since evolved into an AI-powered interactive content platform that allows enterprises to create immersive experiences for marketing, product visualization, entertainment, and customer engagement. The startup builds its technology stack in-house, positioning itself in the growing market for AI-driven interactive content solutions.
Flam’s Series B round, which raised $40 million (around ₹383 crore), saw participation from prominent investors including the family office of Manipal Group chairman Ranjan Pai and Australian Gulf Capital. The company disclosed that existing backers RTP Global and Dovetail increased their stakes during this round, underscoring confidence in Flam’s growth trajectory.