New Delhi, Sept. 23 -- Homegrown private equity firm Multiples Alternate Asset Management is investing $100 million (Rs 956 crore) in Brahma AI, an AI-native enterprise technology company focused on audiovisual content.

Multiples PE's investment is part of a $150 million funding round and values Brahma AI at $2 billion on a post-money basis, according to a statement by Mumbai-listed Prime Focus Ltd, the AI firm's majority owner.

Brahma AI has also received a further $100 million of investor demand and will consider upsizing the round to accommodate some or all of that interest, Prime Focus said. It didn't disclose the names of other investors.

The PE firm's investment will be spread across two companies-almost $54.36 million in Brahma AI Holdings Ltd and $45.64 million in Brahma AI Services India Ltd. It will later swap its stake in Brahma AI Services with shares of Brahma AI Holdings and own a 5% stake in the holding company after the completion of the transaction.

Prime Focus, which commands a market capitalisation of almost $2.8 billion, and its other group companies will own a total of 65.67% in Brahma AI.

"Brahma AI is addressing a large, multi-billion-dollar market opportunity at a time when enterprises are fundamentally rethinking how content is created, localised, managed, and distributed," said Renuka Ramnath, founder, managing director and CEO of Multiples. "The company has built a distinctive platform that combines content intelligence, digital humans, localisation, and workflow automation on top of large proprietary content archives."

The transaction comes a year and a half after Brahma AI acquired London-based Metaphysic in a transaction that valued it at $1.43 billion. That transaction also involved Abu Dhabi-based United Al Saqer Group and DNEG Group, which is part of Prime Focus, investing $25 million in Brahma AI. In addition, Metaphysic's investors, including Liberty Global, S32, TO Ventures and 8VC, became shareholders of Brahma.

Brahma AI is led by founder and CEO Prabhu Narasimhan along with co-founder and chief technology officer Jo Plaete. The company says it operates a unified platform that combines enterprise content intelligence, AI-driven content generation, digital human synthesis, voice cloning, and workflow automation.

The company serves global media, sports, and healthcare institutions, including Warner Bros., the NBA, and Mayo Clinic, alongside ecosystem partners like Google, Hakuhodo, and DNEG.

The company will use the fresh capital to accelerate research and development (R&D), expand its global market presence-specifically in the United States-and strengthen its talent and process build-out.

Narasimhan said enterprise demand for personalised content creation and distribution is expanding exponentially while management platforms remain fragmented. "Their partnership (Multiples) will help us accelerate product innovation, deepen our presence in key global markets, and continue building the operating system for enterprise audiovisual content," he said.

Multiples PE's bets

The PE firm said that the investment aligns with its strategy of expanding its origination footprint in North America and deepening its coverage across artificial intelligence and enterprise software.

Headquartered in Mumbai, Multiples invests in technology, enterprise software, financial services, healthcare, and consumer goods companies. It has backed over 35 companies to date. These include logistics firms Delhivery and InstantXP, digital insurer ACKO, tech services platform QBurst, and B2B marketplace Geniemode.

In recent quarters, Multiples has aggressively invested toward AI-first services and deep-tech platforms. Last year, the firm announced a $200 million majority acquisition of IT consulting firm QBurst and led a $50 million Series C round in Geniemode.

Published by HT Digital Content Services with permission from VC Circle.