AI interactive-content startup Flam has raised $40 million in Series B funding, led by US-based QED Investors, as it looks to deepen its AI research and expand its enterprise business internationally. Actor Shah Rukh Khan joined the round alongside Claypond Capital, Martin Chavez, Olivier Pomel and Venky Harinarayan, while existing investors RTP Global and Dovetail increased their commitments.
Founded in 2021 by Shourya Agarwal, Malhar Patil and Amit Gaiki, Flam is building technology that allows digital content to respond to users rather than remain a one-way experience. Its products include Flicks for interactive video, Forge for AI-based image editing and Airboards for 3D experiences that can respond to touch, voice and haptic interactions without requiring a separate app.
The company has also developed its own AI stack. Its Falcon model is a 26-billion-parameter mixture-of-experts language model, while other systems cover image-to-video generation, voice, facial expression and interactive digital characters. Flam says it holds more than 15 patents and has signed over 100 enterprise customers in six quarters, including companies such as Google, Reliance and Hyundai.
The fresh capital will go toward research on Flam’s underlying AI models, expanding its product portfolio and scaling enterprise sales globally. The startup currently generates roughly half its revenue from India and half from overseas markets, but Agarwal expects the US and Japan to account for a much larger share as international business grows. Flam is also targeting $100 million in annual recurring revenue within the next 18–24 months.
The round takes Flam’s total funding to about $62 million. Shah Rukh Khan’s participation adds visibility, but the larger test lies in whether Flam can turn interactive AI content into a repeatable enterprise category across marketing, product visualisation, training, customer engagement and sales — rather than remaining a novelty layered onto conventional video.
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