Entropik, a Bengaluru, India-based AI-powered integrated market research platform provider, raised $25 million in Series B funding.
The round was led by Bessemer Venture Partners and SIG Venture Capital, with participation from Trifecta Capital, Alteria Capital, and long-time existing investor Bharat Innovation Fund.
With this latest round of funding, Entropik will continue to disrupt consumer research for global brands and build world-class products out of India, enabling research, marketing, and product teams to move towards a more collaborative, agile, and scalable way to conduct research.
The company will also focus on expanding its footprint across the US, Europe, and Asian markets.
Ranjan Kumar, Founder & CEO of Entropik, said, “The world is evolving fast, and brands, whose foundation is understanding its consumer preference & behavior, are failing to deliver meaningful experiences. In our mission to enable brands to achieve a robust understanding of its consumer, we are thrilled to have Bessemer Venture Partners and SIG Venture Capital join this journey. The new round also comes as a testament to the rigor and hard work put in by our global team and the trust put by enterprises in our offerings.”
Entropik has grown ~7x in the last two years, riding on its patented Emotion AI Technologies and driven by its expansion into the US, Europe, Southeast Asia, and the Middle East.
Its unique integrated research platform brings quantitative surveys, qualitative research, an online panel & patented emotion AI technologies under one umbrella, making it a one-stop solution for marketing & product organizations.
Over 150 global brands across finance, media, consumer goods, food & beverage, and entertainment leverage Entropik's consumer research stack to make better consumer-centric decisions faster and more efficiently.
Company: Entropik Technologies Pvt. Ltd.
Raised: $25.0M
Round: Series B
Funding Month: February 2023
Lead Investors: Bessemer Venture Partners and SIG Venture Capital
Additional Investors: Trifecta Capital, Alteria Capital, and Bharat Innovation Fund
Company Website: https://www.entropik.io/
Software Category: AI-powered Integrated Market Research platform
About the Company: Founded in 2016, Entropik is an AI company that provides an AI-powered integrated market research platform. It enables research, marketing, and product teams to move towards a more continuous, collaborative, agile, and scalable way to capture user feedback research by democratizing research and insights data across the organization. Headquartered in Bengaluru, the company has a business presence across the United States, Canada, Europe, the Middle East, and Asia. It has 17 patents in Multi-Modal Emotion AI technologies like Facial Coding, Eye Tracking, and Voice AI. Entropik has won many awards and accolades, such as the Amazon AI Award 2018, and is quoted by Gartner as India's 'Top 5 Cool Vendors in AI'.
Source: https://www.entropik.io/funding