The funding round featured participation from Turbostart, Twin Ventures, Alphatron Capital, Inventus Capital Partners, SVQ, and 9Unicorns, among others. Flam will use the funds to extend its presence in markets such as North America, Europe, and the MENA region. Flam, founded in 2021 by Shourya Agarwal, Rajat Gupta, and Malhar Patil, enables marketers to publish interactive mixed reality content.
Image source: entrackr
Flam, a mixed reality (MR) startup, has raised INR 38 crore ($4.5 million) in a pre-Series A investment round from institutional investors including Turbostart, Twin Ventures, Alphatron Capital, and undisclosed angel investors and family offices.
The startup’s current investors, including Inventus Capital Partners, SVQ, and 9Unicorns, also participated in the investment round.
According to a release, the business plans to utilize the funds to extend its presence in countries such as North America, Europe, and the Middle East and North Africa (MENA) region.
Flam, founded in 2021 by Shourya Agarwal, Rajat Gupta, and Malhar Patil, enables marketers to produce interactive MR content that can be accessible by smartphone cameras. It claims that its proprietary technology is scalable to service billions of consumers.
It uses artificial intelligence, image recognition technology, and image and ground tracking to optimize 3D graphics and enable the creation and deployment of MR content.
According to Inc42, Regarding the money, Flam cofounder and CEO Agarwal stated, “… Our platform is dedicated to making MR accessible to the masses.” Following the viral popularity of Britannia’s MR ad with Ranveer Singh, we’ve received interest from hundreds of worldwide businesses across a variety of industries. MR, like video commercials, will become a permanent part of the brand’s global marketing campaigns.
Meanwhile, Suresh Vaswani, founding partner at Alphatron Capital, stated, “We’ve seen a lot of interest from brands and delight from consumers in MR, which makes us very optimistic about the future of this space.” After speaking with Flam, we realized we had discovered a missing component in MR’s adoption. Aside from their advanced technology, the way they have solved the creation and dissemination of MR is genuinely admirable.”
Flam most recently raised $3.5 million in a venture investment round headed by Silicon Valley Quad and Inventus Capital Partners SV in 2021.
Britannia, Netflix, Wargaming, AJIO, and WPP are among the brands that the firm claims to have served thus far. It competes with apps like PlayShifu, AjnaLens, and Scapic.
The fundraising effort comes at a time when more Indian firms are utilizing augmented reality (AR) and extended reality (XR) to market their products and engage their audiences. The immersive experiences provided by these technologies help businesses to differentiate their offerings and stand out from the crowd.
