Entropik raises $25 mn in Series B funding led by Bessemer, SIG Venture
Entropik, an AI-based market research platform provider, said it has raised $25 million in Series B funding led by Bessemer Venture Partners and SIG Venture Capital. The round also saw participation from Trifecta Capital, Alteria Capital, and long-time existing investor Bharat Innovation Fund.
The funding would help Entropik to move towards a more collaborative, agile, and scalable way to conduct research. It will also focus on expanding its footprint across the US, Europe, and Asian markets.
Over 150 global brands across finance, media, consumer goods, food and beverage, and entertainment leverage Entropik’s consumer research stack to make better consumer-centric decisions faster and more efficiently.
“The world is evolving fast, and brands, whose foundation is understanding its consumer preference and behaviour, are failing to deliver meaningful experiences,” said Ranjan Kumar, Founder and CEO of Entropik. “ 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.”
Entropik said it has grown about 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.
Anant Puri, Partner, Bessemer Venture Partners said the strength of Entropik’s platform lies in its multi-modal, cross-functional capabilities.
Bhavanipratap Rana, Investment Advisor to SIG Venture Capital, said that Entropik provides a faster and cheaper alternative for businesses to interact and understand customer feedback.
Ashwin Raguraman, Co-founder and Partner, Bharat Innovation Fund, said Entropik’s multimodal platform encompassing brainwave mapping, facial coding and voice tonality is globally unique.
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