Flam, an AI company that makes interactive video, 3D and conversational content for brands, raised $40m in a Series B round led by QED Investors, it announced on September 15, 2026.
New backers included Claypond Capital, Australian Gulf Capital, Shah Rukh Khan's SRK Family Office and individual investors Martin Chavez, Olivier Pomel and Venky Harinarayan. Existing investors RTP Global and Dovetail increased their stakes. No valuation was disclosed.
According to StartupFeed, the round more than doubles the $22.5m Flam had raised before, taking its total to about $62.5m.
“Content has moved in waves, from text to images to video, and every wave flowed one way, creator to viewer.”Shourya Agarwal, Founder, Flam
What Flam does
Flam sells three main product formats. Flicks are interactive videos in which the person, product or scene can change while the video plays. Airboards stream 3D content into a phone's camera view without an app, with touch, voice and haptic feedback. Visual Agents are human-like characters that hold conversations and take actions.
The products run on five in-house AI models: Forge for image editing, Fable for turning images into video, Fantom for facial expression, Finesse for multilingual voice and Falcon, a 26-billion-parameter mixture-of-experts language model. The company says it holds more than 15 patents and claims a 50-millisecond time to first buffer for Flicks and a full Visual Agent response in under two seconds.
Brands use the formats for marketing, product visualisation, training, entertainment, fan engagement, customer support and sales. The press release named Google, Grab and KFC as customers; StartupFeed listed Google, Samsung, Hyundai, Emirates and Diageo. Flam also has a regional partnership with Indonesia's Elang Mahkota Teknologi (Emtek) to reach brands in Southeast Asia.
Who invested
QED Investors led the round. Nigel Morris, its co-founder and managing partner, said most frontier AI content companies his firm sees are improving content that already exists, and that Flam was the first team it had seen with the infrastructure to pursue interactive content. QED partner Sandeep Patil said the company's traction was "too exceptional to ignore".
The individual investors include Datadog chief Olivier Pomel and Martin Chavez, a former Goldman Sachs partner, according to StartupFeed.
The funding so far
Flam was founded in 2021 as a research lab by Shourya Agarwal, Malhar Patil and Amit Gaiki, all graduates of BITS Pilani, and launched its first product in 2024. It is based in Bengaluru and also operates from San Francisco, where Agarwal is based, StartupFeed and Entrepreneur India reported.
Its previous round was a $14m Series A in May 2025 led by RTP Global, according to StartupFeed. The same report said revenue has grown fivefold since brands began paying in 2024 and that the company is targeting annual recurring revenue of close to $100m next year. Those figures were not disclosed in the company's release.
Flam said it will spend the new money on AI model research and development, a wider product range and enterprise sales in its priority markets: the US, India, Japan, the UAE and Southeast Asia.
Company website: flamapp.ai