Mixed reality content startup Flam raises $14 million from RTP Global, others
, a startup that provides tools for brands to run mixed reality (MR) advertisements and campaigns, has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and other strategic investors.
The Bengaluru- and San Francisco-based company will use the capital to expand its presence in North America, Europe, and the Middle East, while scaling operations in Asia.
It also plans to invest in product development across generative AI-based tools for
3D asset generation
, analytics, and an integrated advertising suite aimed at sectors such as retail, sports, broadcasting, and live events.
'Given that there is a powerful product-market fit, we have to expand this,' said Shourya Agarwal, cofounder and CEO of Flam. 'India—we largely understand the market at this point, and this is a factory in place, which we can double down, triple down on the revenue bit. But we are looking at opening the US big time. Other than that, a large part of this money will go into product development and more engineering.'
Founded in 2021 by Agarwal, Malhar Patil and Amit Gaiki, Flam is building a full-stack enterprise suite of generative AI-powered products that enables brands to deliver MR experiences across digital advertisements, TV broadcasts, packaging, and retail locations. Its proprietary tech claims to enable interactive 3D content in less than 300 milliseconds, without requiring downloads or browser redirects.
The company said over 100 brands—including Google, Samsung, Emirates,
Dabur
, Ajio, Flipkart, and Tanishq—as well as a US Presidential campaign, have used its platform. Flam claims these MR campaigns have delivered engagement rates up to 49 times higher and conversion rates four times better than conventional formats.
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'We have a stage-wise approach,' said Karthik Raman, chief marketing officer of Flam. 'In enterprises, we've gone as deep as possible and will go deeper in the US, UAE, and Europe. Then, with GenAI, the focus is on how to bring it down to MSME brands and creators—that's our phase-wise approach.'
The company currently employs about 150 people, including nearly a dozen in the US.
Flam had earlier raised
around $4.5 million
in a pre-Series A round from Turbostart, AI-focussed Twin Ventures, Alphatron Capital, several angel investors, family offices, and existing backers. It had also
raised $3.5 million in seed funding
in 2021. With the latest round, Flam has raised a total of $22 million to date.
"The time for MR is now — and Flam is uniquely positioned to lead this wave. What excites us is not just the technology, but the clarity of vision and speed of execution,' said Nishit Garg, partner at RTP Global.
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