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Time of India
3 days ago
- Business
- Time of India
Stable Money raises $20 million in flat Series B round led by Fundamentum
BENGALURU: Wealth-tech startup Stable Money has raised $20 million (Rs 173 crore) in a Series B round led by Fundamentum Partnership, the early-stage fund co-founded by Nandan Nilekani. Aditya Birla Ventures also participated, along with existing investors Z47, RTP Global and Lightspeed. The round comes less than a year after the company's previous fundraise. Stable Money plans to use the capital to expand its product offerings, strengthen its network of banking and non-banking financial company (NBFC) partners, and extend its reach into smaller cities and towns. Founded in 2022, the Bengaluru-based startup operates a digital platform that facilitates fixed-return investments. It allows users to book fixed deposits without opening a savings account and offers features such as instant withdrawal, a 7-day trial fixed deposit (FD), and FD-backed credit cards. The company recently launched Stable Bonds as part of its product expansion. Stable Money said it currently has over 20 lakh users and manages more than Rs 3,000 crore in assets across FDs and bonds. India's fixed deposit market includes more than 230 million account holders and continues to grow at an annual rate of around 12%. The company had previously raised $20 million across earlier funding rounds from investors including Z47, Lightspeed, RTP Global, and Marshot, along with angel backers such as Swiggy's Sriharsha Majety and Snapdeal founders Kunal Bahl and Rohit Bansal. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
3 days ago
- Business
- Time of India
Wealthtech startup Stable Money raises $20 million in round led by Nilekani's Fundamentum Partnership
Wealthtech startup Stable Money, which provides digital fixed-return investment products, has raised $20 million (Rs 173 crore) in a funding round led by Infosys cofounder Nandan Nilekani 's Fundamentum Partnership . Existing backers Z47, RTP Global and Lightspeed, along with Aditya Birla Ventures, also participated in the round. The Bengaluru-based company will use the fresh capital to expand its suite of wealth products and accelerate customer acquisition by strengthening its distribution, cofounder Saurabh Jain told ET. 'In the last four or five years, most of the investments have come into categories like mutual funds, stocks and crypto, and they have seen massive growth. Everybody thought that was the opportunity for India,' Jain said. 'But there is a larger segment, which is currently under-tapped. That's when we started with fixed deposits ( FDs ), and I think that segment has given us a lot of love and volumes, which is very surprising, even to us,' he added. Users can create FDs on the platform starting at Rs 1,000, Jain said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Jain previously served as CEO of Navi Mutual Fund and held leadership roles at Swiggy . His cofounder, Harish Reddy, was formerly with the broking firm Estee. The company plans to onboard at least eight new banks and non-banking finance companies (NBFCs) in 2025. It currently has partnerships with around eight banks and two NBFCs. It also aims to broaden its marketing efforts to target underserved investors in tier-II and tier-III cities. As per its mobile application, banks currently integrated on the platform include IndusInd Bank, South Indian Bank, Slice Small Finance Bank, Ujjivan Small Finance Bank, Unity Small Finance Bank, and Suryoday Small Finance Bank. Stable Money had earlier raised $20 million across multiple rounds from investors, including Z47, Lightspeed, RTP Global, and Marshot, as well as angel investors such as Swiggy cofounder Sriharsha Majety and Titan Capital's Kunal Bahl and Rohit Bansal. Since its launch in 2022, Stable Money has onboarded more than 150,000 users, who have invested in FDs and bonds, taking its total assets under management (AUM) to over Rs 3,000 crore. The company noted that FDs remain India's most popular financial product, with over 230 million Indians holding them. The category continues to grow at the rate of 12% annually. In addition to FDs, Stable Money also offers investment products such as recurring deposits (RDs), secured credit cards, and bonds on its platform. While platforms such as Groww and Zerodha offer FDs, sovereign gold bonds (SGBs), and other fixed-income products as part of broader investment portfolios, several fintech players have also recently launched FD offerings. For instance, Flipkart-backed launched its FD product in November 2024, while payments firm MobiKwik rolled out instant FDs on its app last year. 'Stable Money is reimagining savings by building a highly trusted, digital-first fixed-income investment platform. They've blitzscaled from zero to over Rs 3,000 crore in AUM and have demonstrated 40% growth over the last three months. The team has democratised access to fixed-income products and built incredible customer love along the way,' said Mayank Kachhwaha, principal at Fundamentum. Vikram Vaidyanathan, managing director at Z47, added: 'We are seeing a generational shift in how Indians approach wealth, with a cohort of investors prioritising long-term compounding of savings over short-term gains. Stable Money has built deep trust in fixed-income products through a combination of user education, access, and a superlative consumer experience.'
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Business Standard
13-05-2025
- Business
- Business Standard
AI infrastructure startup Flam raises $14 million in Series A round
Flam will use the capital to scale its GenAI product suite, expand across North America, Europe and the Middle East, and deepen mixed reality infrastructure in Asia BS Reporter New Delhi Listen to This Article AI infrastructure startup Flam has raised $14 million in its Series A round led by RTP Global, with participation from Dovetail and other strategic investors. With this round, Flam has raised a total of $22 million to date. The company will use the funding to enhance product development and innovation, expand its presence across North America, Europe and the Middle East, and deepen operations in Asia. It also plans to scale its proprietary infrastructure, broaden its partner programme for creative studios and platforms, and roll out a new enterprise-grade suite of products. "Our mission is to turn every touchpoint —
Campaign ME
13-05-2025
- Business
- Campaign ME
Flam raises $14mn in Series A to scale AI infra for brands and marketers
Flam, a leading AI-powered mixed-reality content creation and publishing platform for immersive and experiential marketing and advertising, has raised $14mn in Series A funding to scale its AI infrastructure, which is aimed at helping marketers turn any touchpoint into an interactive, app-less digital and 3D experience. The Series A round was led by RTP Global, with participation from Dovetail and other existing investors, bringing Flam's total funding to $22mn. Flam is building infrastructure to solve a key challenge within the industry: Most marketing today still relies on passive consumption over active engagement. In a world where consumer attention is harder to earn than ever, brands are searching for new ways to turn one-way messages into engaging, two-way interactions. Flam's full-stack enterprise suite of Gen AI-powered products aims to redefine how brands engage with audiences. 'Our mission is to turn every touch-point — digital, broadcast TV, mass media, retail, stadium fan engagements and more — into interactive digital experiences,' said Shourya Agarwal, co-founder and CEO of Flam. Agarwal added, 'We are laser focused to ship the GenAI tools that brands and enterprises have been yearning for. Flam has galvanised marketers around the world now we're taking it to the next level with a full stack enterprise suite of products across channels; to make them engaging, measurable, interactive. To date, Flam has been turning traditional ads into interactive MR experiences. A simple QR code Scan or a link lets users instantly immerse in an experience that can showcase a product, tell a story, or unlock a deeper layer of the brand — all without needing to download an app. Flam's platform allows brands to launch interactive content via QR codes or link on any touchpoint – digital, broadcast TV, mass media, retail, OOH, packaging, and even WhatsApp messages. The platform is already being used by more than 100 global brands including Google, Samsung, Emirates, Britannia, and Mahindra, with real-time mixed reality campaigns that have reached more than 380 million users. From turning product packaging into shareable stories to activating 3D demos on TV ads and billboards, Flam aims to help brands create experiences that feel native to how people consume media today. Starting this year, Flam has been accelerating R&D on its app-less Gen AI infrastructure that enables brands to create, publish and measure high-fidelity mixed reality (MR), three-dimensional (3D) and digital experiences in less than 300ms on any smartphone. Flam will expand its partner program for creative studios and global platforms, enabling Fortune 500 brands to move from pilot to rapid global roll-out . Upcoming product development includes Gen AI-driven 3D asset generation, democratising MR deployment at scale, enterprise suite of products across industries, and infrastructure for broadcasters and fan engagement. With its Series A secured, Flam aims to redefine how consumers interact with ads, retail aisles, live broadcasts and fan moments — turning content and interfaces into shoppable, shareable experiences that deliver measurable ROI. 'This capital unlocks the next chapter of Flam's deep‑tech roadmap. Our edge‑compute architecture already streams hyperreal mixed‑reality in under 300 ms; the next milestone is a fully generative pipeline that lets brands create, personalise and publish digital and 3D experiences on the fly — secure and at scale' said Amit Gaiki, co‑founder and CTO. Nishit Garg, Partner at RTP Global, said, 'The time for MR is now — and Flam is uniquely positioned to lead this wave. What excites us is not just the technology, but the clarity of vision and speed of execution. Shourya, Malhar and team are building a category-defining company—and we're excited to be part of their journey in this next phase of growth'. Amal Parikh, Managing Director at Dovetail, added, 'With Limitless applications, strong execution and clear vision we believe Flam is set to redefine how brands connect with consumers.' Flam currently employs more than 120 people across engineering, AI, creative tech and go-to-market teams. The company expects to grow to more than 180 employees by the end of 2025, with expansion across the U.S., Europe, and Asia already underway. Agarwal concluded, 'The world is meant to be experienced. Immersive media shouldn't just be a video. That said, the creation of immersive media should be as easy and ubiquitous as a video. Flam is here to power enterprises precisely for this.'
Time of India
13-05-2025
- Business
- Time of India
Mixed reality content startup Flam raises $14 million from RTP Global, others
Flam , a startup that provides tools for brands to run mixed reality (MR) advertisements and campaigns, has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and other strategic investors. The Bengaluru- and San Francisco-based company will use the capital to expand its presence in North America, Europe, and the Middle East, while scaling operations in Asia. It also plans to invest in product development across generative AI-based tools for 3D asset generation , analytics, and an integrated advertising suite aimed at sectors such as retail, sports, broadcasting, and live events. 'Given that there is a powerful product-market fit, we have to expand this,' said Shourya Agarwal, cofounder and CEO of Flam. 'India—we largely understand the market at this point, and this is a factory in place, which we can double down, triple down on the revenue bit. But we are looking at opening the US big time. Other than that, a large part of this money will go into product development and more engineering.' Founded in 2021 by Agarwal, Malhar Patil and Amit Gaiki, Flam is building a full-stack enterprise suite of generative AI-powered products that enables brands to deliver MR experiences across digital advertisements, TV broadcasts, packaging, and retail locations. Its proprietary tech claims to enable interactive 3D content in less than 300 milliseconds, without requiring downloads or browser redirects. The company said over 100 brands—including Google, Samsung, Emirates, Dabur , Ajio, Flipkart, and Tanishq—as well as a US Presidential campaign, have used its platform. Flam claims these MR campaigns have delivered engagement rates up to 49 times higher and conversion rates four times better than conventional formats. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 'We have a stage-wise approach,' said Karthik Raman, chief marketing officer of Flam. 'In enterprises, we've gone as deep as possible and will go deeper in the US, UAE, and Europe. Then, with GenAI, the focus is on how to bring it down to MSME brands and creators—that's our phase-wise approach.' The company currently employs about 150 people, including nearly a dozen in the US. Flam had earlier raised around $4.5 million in a pre-Series A round from Turbostart, AI-focussed Twin Ventures, Alphatron Capital, several angel investors, family offices, and existing backers. It had also raised $3.5 million in seed funding in 2021. With the latest round, Flam has raised a total of $22 million to date. "The time for MR is now — and Flam is uniquely positioned to lead this wave. What excites us is not just the technology, but the clarity of vision and speed of execution,' said Nishit Garg, partner at RTP Global.
