Flam, a pioneering mixed reality (MR) startup, has successfully closed a pre-Series A funding round, amassing INR 38 crore ($4.5 million) from a consortium of institutional investors including Turbostart, Twin Ventures, Alphatron Capital, alongside undisclosed angel investors and family offices. The funding infusion, which witnessed the continued support of existing investors such as Inventus Capital Partners, SVQ, and 9Unicorns, underscores Flam’s strategic growth trajectory in the burgeoning MR landscape.
Expansion Plans and Market Penetration
Founded in 2021 by Shourya Agarwal, Rajat Gupta, and Malhar Patil, Flam is dedicated to democratizing MR technology, enabling brands to craft immersive, interactive content accessible through mobile cameras. With a focus on scalability, Flam’s proprietary technology harnesses artificial intelligence (AI), image recognition, and tracking mechanisms to optimize 3D graphics and streamline MR content creation and deployment.
Industry Endorsement and Vision
Flam’s recent funding milestone reaffirms its commitment to amplifying MR adoption globally, with plans to bolster its presence across key markets including North America, Europe, and the MENA region. CEO Shourya Agarwal underscores the transformative potential of MR in brand marketing, citing the viral success of Britannia’s MR ad featuring Ranveer Singh as a testament to Flam’s value proposition. Suresh Vaswani, founding partner at Alphatron Capital, lauds Flam’s innovative approach to MR content creation, emphasizing its pivotal role in driving consumer engagement and brand resonance.
Past Milestones and Clientele
Previously securing $3.5 million in seed funding led by Silicon Valley Quad and Inventus Capital Partners SV in 2021, Flam has garnered a diverse portfolio of clients including Britannia, Netflix, Wargaming, AJIO, and WPP. Leveraging its advanced technology stack, Flam competes in the MR domain alongside industry peers such as PlayShifu, AjnaLens, and Scapic.
Thriving XR Landscape in India
Flam’s successful funding round mirrors the broader trend of increased adoption of augmented reality (AR) and extended reality (XR) technologies among Indian brands seeking to enhance customer engagement and drive differentiation. With the Indian AR and VR market projected to reach $1.2 billion by 2029, investors are eyeing the sector’s immense growth potential, evident in recent funding rounds such as AutoVRse’s $2 million seed funding led by Lumikai in February.
Potential Future Developments
As Flam embarks on its next phase of growth fueled by fresh capital infusion, the MR landscape in India stands poised for further innovation and disruption. With an array of applications spanning advertising, gaming, retail, and beyond, MR technology promises to redefine brand-consumer interactions and reshape the marketing playbook in the digital age.
