Entropik AI Startup Raises Fund $25 Mn From Bessemer Venture

Entropik AI startup said that it has secured $25 million in Series B funding from Bessemer Venture Partners and SIG Venture Capital. Trifecta Capital, Alteria Capital and long-time investor Bharat Innovation Fund were also participants in the round.

The grant will assist Entropik in changing its research strategy to one that is more cooperative, nimble, and scalable. Additionally, it will concentrate on extending its presence in the US, European, and Asian markets.

Entropik’s consumer research stack is used by more than 150 international brands in the financial, media, consumer goods, food, beverage and entertainment industries to help them make more effective, quicker consumer-centric decisions.

According to Entropik, its unique Emotion AI technology and growth in the US, Europe, Southeast Asia and the Middle East have led to an approximate seven-fold increase in growth over the previous two years.

With the help of Entropik, which was founded in 2016 by Ranjan Kumar, Lava Kumar, and Bharat Shekhawat, research, marketing and product teams may gather user feedback more regularly and cooperatively. The startup focuses on harnessing emotional AI including eye contact and facial expressions to assist businesses in creating better products.

Entropik which is a Bengaluru-based company, raised over Rs 60 crore in its Series A fundraising round which was coordinated by Alpha Wave Incubation and included previous investors, in September 2020.

In July 2018, it received $1.1 million in pre-Series A funding from Parampara Capital and Bharat Innovation Fund.

Using Entropik’s tools like Affect UX, Labs and Decode, marketers can more precisely measure and assess customer input.

About 17 patents in multimodal emotional AI technologies, including face coding, eye tracking, and speech AI, are held by the company.