Entropik raises $25 mn from Bessemer Venture Partners, SIG & others

• The platform brings quantitative surveys, qualitative research, online panels and patented emotion AI technologies under one umbrella.
  
• Trifecta Capital, Alteria Capital, and long-time existing investor Bharat Innovation Fund also participated in the latest funding round.
  
• Entropik aims to build world-class products out of India, enabling marketing, product and other teams to conduct research.
  

Entropik, an AI-powered market research platform, raised $25 million in a Series B funding. It said on Wednesday that the funding round was led by Bessemer Venture Partners and SIG Venture Capital.

The round also saw participation from Trifecta Capital, Alteria Capital, and its long-time existing investor Bharat Innovation Fund.

The platform brings quantitative surveys, qualitative research, online panels and patented emotion AI technologies under one umbrella, making it a one-stop solution for marketing and product organisations.

With this latest round of funding, Entropik aims to build world-class products out of India, enabling marketing, product and other teams to conduct research. They will also focus on expanding their footprint across the US, Europe, and Asian markets.

“Entropik has grown tremendously, powered by its DeepTech solutions and a high-quality, continuously evolving team. In enabling brands to improve their customers' experiences, they are the engine powering how customers interact with their brands better. Their multimodal platform encompassing brainwave mapping, facial coding and voice tonality is globally unique” Ashwin Raguraman, co-founder and partner, Bharat Innovation Fund said.

Over 150 global brands across finance, media, consumer goods, food and beverage and entertainment, leverage Entropik's consumer research stack to make consumer-centric decisions.

"The world is evolving fast, and brands, whose foundation is understanding its consumer preference and behaviour, are failing to deliver meaningful experiences. The new round also comes as a testament to the rigour and hard work put in by our global team and the trust put by enterprises in our offerings,” Ranjan Kumar, founder and CEO of Entropik, said.

"Marketers can now measure more accurately and assess consumer feedback with Entropik's products, like Affect UX, Labs, and Decode. We are excited to invest and support the team at Entropik as they expand into new markets” Bhavanipratap Rana, Investment Advisor to SIG Venture Capital, said.

Entropik claims that it has grown 7x in the last two years, riding on its patented emotion AI technologies, driven by its expansion into the US, Europe, Southeast Asia, and the Middle East.

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