GRAVITY and Flam Raise Funds in Pre-Series A Round The Indian startups listed below have disclosed investment rounds.
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GRAVITY Raises USD 1 Mn in Pre-Series A Led by Kettleborough VC
GRAVITY, a hyper-personalised banking platform, has raised USD 1 million in a pre-series A round led by Kettleborough VC. The round also saw participation from eminent personalities from the banking industry and a few HNIs.
The Mumbai-based startup plans to deploy the raised capital towards tech development and the seamless execution of organic growth cycles.
Launched in March 2024 by Satish Krishnaswamy and Rohit Maroo, GRAVITY enables banks to create a tailored experience for both retail and enterprise customers.
It enables interoperability amongst all the underlying banking software, managing core banking systems (CBS), payments, LOS, LMS, treasury, depository, and many others, thereby creating an integrated ecosystem.
Using this ecosystem, banks can develop contextual and customised products on top of their existing solutions, as per the customers' needs and eligibility.
The platform claims that using GRAVITY, banks can achieve several efficiencies, such as routing IMPS transactions through NEFT if the IMPS server is down (ensuring near-zero transaction declines); offering instant loans to customers facing failed transactions due to low account balances; and launching new products or workflows within 2-3 days using GRAVITY's API symphony, among many other use cases.
Satish Krishnaswamy, Co-founder and CEO of GRAVITY, said, "Through GRAVITY, we are addressing fragmented banking systems, which limit the efficiency potential of banks while also restricting them from offering personalised experiences to their customers."
With expansive data repositories and access to customers' banking history, banks should be able to offer tailored features such as the integration of banking services on third-party consumer apps; introduction of universal loan accounts; introduction of singular cards for credit, debit, and prepaid transactions. With GRAVITY, we are making these innovative features and products possible for banks, eliminating the requirement of establishing capex-heavy individual units for each product," he added.
Flam Secures INR 38 Cr in Pre-Series A Round
AI-enabled mixed reality (MR) publishing platform Flam announced that it has raised INR 38 crore (USD 4.5 million) in its pre-Series A round from Turbostart, Twin Ventures, Alphatron Capital, and angel investors, along with several family offices.
Existing backers such as SF-based Inventus Capital Partners, SVQ, and 9Unicorns also invested.
With this infusion of capital, the Bengaluru-based platform plans to expand its MR platform's reach into North America, Europe, and the MENA region.
Vishwesh Pai, Founding Partner at Alphatron Capital, added, "We've been observing huge interest from brands and delight among consumers for MR, which makes us extremely optimistic about the future of this space. After interacting with Flam, we instantly knew we had found a missing ingredient in MR's adoption. Beyond their sophisticated technology, the way they have solved the creation and distribution of MR is truly commendable."
Founded in 2021 by Shourya Agarwal, Flam is at the forefront of publishing interactive MR content that can be accessed via mobile cameras, aiming to revolutionize the marketing landscape. The platform has already hosted global brands, including Britannia, Netflix, Wargaming, AJIO, Heeramandi, WPP, and Indian politician Shashi Tharoor.
Flam's MR technology transforms print, OOH, TV, and digital advertisements into engaging experiences for consumers. Its device-agnostic platform operates on all Android and iOS mobile devices, enabling rapid creation and deployment of MR content.
Shourya Agarwal, Founder and CEO of Flam, stated, "Content has been evolving over decades and is now transitioning into MR experiences. Our platform is dedicated to making MR accessible to the masses. Following the viral success of Britannia's MR ad featuring Ranveer Singh, we've attracted interest from 100 global brands across various industries. Just like video ads, MR will become permanent in the brand's marketing strategies worldwide."
