Flam Raises $40M Series B for AI Content Innovation

Flam, a San Francisco-based innovator in AI-driven interactive content, has successfully closed a $40 million Series B funding round. The significant capital infusion was spearheaded by QED Investors, with substantial participation from Claypond Capital, prominent tech figures Martin Chavez and Olivier Pomel, investor Venky Harinarayan, and Bollywood superstar Shah Rukh Khan. Existing backers RTP Global and Dovetail also contributed to the round, underscoring continued confidence in Flam's trajectory. This funding is earmarked for accelerating research and development in its proprietary AI models, expanding its diverse product portfolio, and aggressively scaling its global enterprise sales operations.

Founded in 2021, Flam has rapidly established itself by developing sophisticated AI-powered interactive content solutions. These are deployed across critical business functions including marketing campaigns, product visualization, employee learning and development programs, and customer support initiatives. The company, which boasts a significant presence in India and Japan alongside its US headquarters, has secured over 15 patents and attracted more than 100 enterprise clients in the last six quarters. Notable clients include tech giants like Google, conglomerate Reliance, and automotive leader Hyundai, highlighting the broad applicability and market acceptance of Flam's technology.

In parallel, the Indian fintech sector saw significant activity. Lending-tech firm Fibe (formerly EarlySalary) received the crucial green light from the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The offering is set to include a fresh issue of shares valued at up to INR 750 crore, alongside an offer for sale involving over 4 crore equity shares, with TPG expected to be a major selling shareholder. Fibe, established in 2015 by Akshay Mehrotra and Ashish Goyal, has demonstrated robust financial performance, with net profit more than doubling to INR 257.5 crore in FY26 and operating revenue climbing 31% to INR 1,584.6 crore. A substantial portion of the IPO proceeds, approximately INR 562.6 crore, is slated for investment into its Non-Banking Financial Company (NBFC) subsidiary.

Further refining its public market ambitions, digital lending platform Moneyview has revised its IPO filing. The company has halved its proposed fresh issue size to INR 750 crore and reduced its offer-for-sale component. This strategic adjustment follows SEBI's approval and precedes the company's public debut. Investors such as Accel, Tiger Global, Crimson Winter, and Ribbit Capital have adjusted their stake sales accordingly, while the founders' offer-for-sale remains consistent. Moneyview, co-founded by Puneet Agarwal and Sanjeev Bikhchandani, reported strong financials, with revenues reaching INR 2,773 crore and profits at INR 210 crore in the first nine months of FY26.

On the HR technology front, Darwinbox, a prominent cloud-based human capital management platform, secured an undisclosed follow-on investment from Teachers' Venture Growth (TVG). This marks TVG's second investment in Darwinbox, following their initial backing in 2025. Darwinbox, founded in 2015 by Jayant Paleti, Chaitanya Peddi, Rohit Chennamaneni, and Vineet Singh, serves over 1,400 companies and 4.5 million employees globally. The company has experienced impressive growth, with a 70% CAGR over the last five years. Its recent launch of Darwinbox Cortex, an AI-native HCM platform developed in collaboration with tech partners including Microsoft, Slack, and Glean, signals a commitment to leveraging advanced technologies.

In a move to bolster India's early-stage startup ecosystem, Novastar Partners, an investment platform focused on the Indian private markets, has invested an undisclosed sum in the pre-seed venture fund AJVC. This strategic investment provides Novastar with exposure to nascent companies across high-growth sectors such as AI, healthcare, deeptech, and consumer technology. AJVC, founded by Aviral Bhatnagar, manages a corpus of approximately INR 165 crore and has already supported over 35 startups, with plans to invest in more than 85 companies throughout its fund life. Novastar Partners, led by Dhruv Jhunjhunwala, actively invests in private equity and venture capital funds, alongside direct investments in Indian technology ventures.