Mixed reality content platform Flam raises Rs 38 crore in funding
IANS
Synopsis
Mixed reality (MR) content publishing platform Flam will use the fresh capital to expand its MR platform footprint into new countries in North America, Europe and the Middle East and North Africa.
By ETtech
Last Updated:
Mixed reality (MR) content publishing platform Flam on Tuesday said it has secured Rs 38 crore ($4.5 million) in a pre-Series A financing round.
Flam said the funds will be used to expand its MR platform’s footprint into newer geographies like North America, Europe and the Middle East and North Africa (MENA).
“Content has been evolving over the last 25 to 30 years, becoming more immersive and engaging… I think the more evolved term is ‘mixed reality’ because we are now closer to how the physical and the digital worlds or the imaginary worlds can essentially blend together,” Shourya Agarwal, founder and CEO of Flam, told ET. “It remains central as a theme that mixed reality as a content is the space which we want to own.”
Among the existing backers that invested in the company were SF-based Inventus Capital Partners, SVQ and 9Unicorns (now 100 Unicorns).
Flam, set up in May 2021, facilitates the creation and distribution of interactive MR content, leveraging its AI-driven capabilities, which can be accessed through mobile cameras, targeting the burgeoning marketing landscape.
It is used by brands like Britannia, Netflix, Wargaming and Ajio to enhance their digital, print, television and out of home (OOH) advertising, creating a robust return on investment for them.
The company is integrating MR in the marketing campaigns of brands like Amazon and Samsung, with such integrations expected to go live in June 2024, it said.
Additionally, Flam has worked with more than 15 brands since launching its MR platform.
It said more than 200 conversations are currently on with various brands to bring MR technology into their offline and online marketing campaigns.
In 2021, Flam had raised $3.5 million in a seed funding round.
Flam said its technology is designed for scalability and is capable of serving billions of users. It claims that it features the fastest image recognition and top-tier image and ground tracking on its device-agnostic platform that operates on all Android and iOS mobile devices, enabling rapid creation and deployment of MR content.
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Turbostart, AI-focussed Twin Ventures, Alphatron Capital, some angel investors, family offices and existing backers participated in the funding round.Elevate Your Tech Prowess with High-Value Skill Courses
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“Content has been evolving over the last 25 to 30 years, becoming more immersive and engaging… I think the more evolved term is ‘mixed reality’ because we are now closer to how the physical and the digital worlds or the imaginary worlds can essentially blend together,” Shourya Agarwal, founder and CEO of Flam, told ET. “It remains central as a theme that mixed reality as a content is the space which we want to own.”
Among the existing backers that invested in the company were SF-based Inventus Capital Partners, SVQ and 9Unicorns (now 100 Unicorns).
Flam, set up in May 2021, facilitates the creation and distribution of interactive MR content, leveraging its AI-driven capabilities, which can be accessed through mobile cameras, targeting the burgeoning marketing landscape.
ADVERTISEMENT
It is used by brands like Britannia, Netflix, Wargaming and Ajio to enhance their digital, print, television and out of home (OOH) advertising, creating a robust return on investment for them.
The company is integrating MR in the marketing campaigns of brands like Amazon and Samsung, with such integrations expected to go live in June 2024, it said.
ADVERTISEMENT
Additionally, Flam has worked with more than 15 brands since launching its MR platform.
It said more than 200 conversations are currently on with various brands to bring MR technology into their offline and online marketing campaigns.
ADVERTISEMENT
In 2021, Flam had raised $3.5 million in a seed funding round.
Flam said its technology is designed for scalability and is capable of serving billions of users. It claims that it features the fastest image recognition and top-tier image and ground tracking on its device-agnostic platform that operates on all Android and iOS mobile devices, enabling rapid creation and deployment of MR content.
