Flam funding has reached $40 million in a Series B round led by QED Investors, with actor Shah Rukh Khan among the participants. The round gives Flam fresh capital to develop its AI models, expand its interactive-content products and grow enterprise sales internationally.
The funding is notable not only because of its size, but also because Flam is building a different kind of AI business: instead of simply generating content, it wants users to interact with videos, 3D experiences and AI-powered digital characters.
Key Points
- Flam raised: $40 million in Series B funding
- Lead investor: QED Investors
- Notable participant: Shah Rukh Khan
- Founders: Shourya Agarwal, Malhar Patil and Amit Gaiki
- Founded: 2021
- Total equity funding: About $62.5 million after the Series B
- Enterprise customers: More than 100
- Notable customers reported: Google, Reliance, Hyundai and others
- Focus: AI-powered interactive content
- New funding: AI research, product development and global enterprise expansion
What Is Flam?
Flam is an AI-native interactive content company. In short, it helps businesses turn conventional digital media into experiences users can actually interact with.
Unlike a traditional video that mostly follows a fixed path, Flam’s technology makes content respond to the user instead.
So what does Flam actually build? Its applications include:
- Interactive videos
- 3D experiences
- Product visualisation
- AI-generated visual content
- Digital characters and visual agents
- Marketing and customer engagement
- Learning and development
As for the team behind it, Shourya Agarwal, Malhar Patil, and Amit Gaiki founded Flam in 2021. All three are BITS Pilani alumni. Today, Flam runs teams in India and Japan, while its headquarters sits in San Francisco, according to the company’s announcement and recent reporting.
For founders tracking India’s rapidly expanding AI ecosystem, Flam is another example of how startups are applying AI to specific business problems. FounderPin’s guide to top AI startups in India covers other companies building products across sectors such as healthcare, fintech and enterprise technology.
Flam Funding: Details of the $40 Million Round
The $40 million Series B was led by QED Investors, with several individual and institutional investors participating.
The round included:
- QED Investors
- Claypond Capital
- Martin Chavez
- Olivier Pomel
- Venky Harinarayan
- Shah Rukh Khan
- Existing investors RTP Global
- Dovetail
Flam said existing investors RTP Global and Dovetail increased their commitments in the new round.
The company had previously raised $22.5 million in equity funding, including a $14 million Series A in 2025. The latest round takes its reported total equity funding to roughly $62.5 million.
This kind of capital can give an AI startup more runway for research, hiring, product development and international expansion. For founders interested in understanding the broader fundraising process, FounderPin’s guide on how to raise funding for startups in India explains the different stages and funding options available to startups.
Why Is Shah Rukh Khan Investing in Flam?
Shah Rukh Khan is one of the participants in Flam’s Series B funding round, but the company has not publicly disclosed the size or specific terms of his investment.
That distinction matters. The $40 million refers to the entire funding round, not to Shah Rukh Khan’s individual investment.
The round brings together venture investors, technology executives and other backers around Flam’s interactive-content platform. Reports identify Khan as a participant, while some coverage refers specifically to the SRK Family Office.
For Flam, the bigger story is therefore the combination of institutional funding and strategic individual investors—not simply celebrity participation.
How Flam’s AI Technology Works
Flam combines generative AI, interactive video, 3D streaming and AI-powered characters to create content that responds to users.
Its product ecosystem includes several technologies and formats.
Flicks
Flicks are interactive videos that can change elements such as people, products or scenes during playback.
Flam says its technology can deliver these experiences with a 50-millisecond time-to-first-buffer, according to its product announcement.
Forge
Forge is an AI editing model designed to modify a specific element of an image while retaining the rest of the reference image.
That can be useful for product and creative teams that need variations without rebuilding an entire visual.
Airboards
Airboards are interactive 3D experiences designed for camera interfaces.
Flam says users can interact through touch, voice and haptic inputs, without needing to install a separate app.
Visual Agents
Flam is also developing Visual Agents—AI-powered characters designed to communicate with users and perform actions.
The company’s technology stack includes Falcon, a 26-billion-parameter mixture-of-experts language model, along with systems such as Fantom and Finesse for visual and voice capabilities.
Who Uses Flam?
Flam says it has signed more than 100 enterprise customers across six quarters.
Reported customers include major companies such as Google, Reliance and Hyundai, while Flam’s own announcement also names Google, Grab and KFC. Different reports list different customer examples, so the safest takeaway is that Flam has crossed the 100-enterprise-customer mark rather than treating any single customer list as exhaustive.
The company’s technology is being used across:
- Marketing
- Product visualisation
- Entertainment
- Fan engagement
- Training and learning
- Customer support
- Sales
Google has reportedly used Flam for interactive experiences around products and services including Pixel phones, YouTube Shorts and Gemini.
How Will Flam Use the New Funding?
Flam plans to put the new capital into AI research, product expansion and international enterprise sales.
The company has identified three major priorities:
- AI research and development — improving its underlying AI models.
- Product expansion — building out its interactive-content product suite.
- Global sales — expanding enterprise operations in international markets.
Flam’s founder Shourya Agarwal has also indicated that the company plans to hire AI research engineers in the US, strengthen its product team and expand enterprise sales.
Flam’s Global Expansion Strategy
The company is targeting international markets alongside its Indian business, particularly the US and Japan.
Mint reported that Flam’s business was roughly split between India and international markets, with the US and Japan accounting for much of its overseas business. The company has also partnered with Indonesia’s Elang Mahkota Teknologi (Emtek) to bring its technology to brands across Southeast Asia.
Flam is therefore positioning itself as an enterprise technology company rather than an India-only AI startup.
What Makes Flam Different From Typical AI Content Startups?
Flam’s central proposition is interactivity rather than simply generating more content.
Generative AI has made it easier to create text, images, audio and video. Flam is betting on the next layer: making those assets responsive and interactive.
The company’s own thesis is that internet content has evolved from text to images and then video, while most formats still operate as one-way experiences. Flam wants to introduce interaction into that content layer.
That approach could have applications across advertising, commerce, entertainment, education and customer service.
Flam Funding: What Comes Next?
The next phase for Flam will be about converting its technology and enterprise traction into scalable international growth.
The company says it is targeting $100 million in annual recurring revenue within the next 18–24 months, although it has not disclosed its current ARR.
That target is ambitious, but it should be treated as a company goal rather than a reported financial result.
Flam also says it holds more than 15 patents and currently offers multiple interactive formats supported by its AI models.
FounderPin Perspective
Flam’s $40 million funding round highlights a broader shift in the AI startup market: the opportunity is moving beyond simply generating content.
The interesting question is whether interactive AI can become a practical enterprise layer across advertising, commerce, entertainment and customer experience.
With QED Investors leading the round and Shah Rukh Khan among the participants, Flam now has additional capital and visibility to pursue that strategy. The real test will be whether its growing customer base translates into sustainable recurring revenue at global scale.
FAQs About Flam Funding
1. How much funding has Flam raised in total?
Flam has raised about $62.5 million in total equity funding after its $40 million Series B round in September 2026. Before the latest round, the company had raised approximately $22.5 million, including a $14 million Series A in 2025.
2. Who are the investors in Flam’s $40 million funding round?
The $40 million Series B was led by QED Investors. Other participants include Shah Rukh Khan, Claypond Capital, Martin Chavez, Olivier Pomel and Venky Harinarayan. Existing investors RTP Global and Dovetail also participated again.
3. What does Flam do as an AI startup?
Flam develops AI-powered interactive content for businesses. Its technology includes interactive videos, 3D experiences, image and video-generation tools, and Visual Agents that can interact with users. The company serves applications including marketing, product visualisation, entertainment, learning and customer support.
4. How will Flam use its new $40 million funding?
Flam plans to use the funding for AI research and development, expanding its product portfolio and scaling enterprise sales internationally. The company has also said it plans to hire AI research engineers in the US and expand its product and sales teams.
5. Who founded Flam and when was the company started?
Flam was founded in 2021 by Shourya Agarwal, Malhar Patil and Amit Gaiki, who are BITS Pilani alumni. The company operates between Bengaluru and San Francisco and also has teams in India and Japan. Flam says it has signed more than 100 enterprise customers across six quarters.
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