The company plans to use the fund to build world-class products out of India and expand across United States, Europe and Asia
Entropik, an AI-based integrated market research platform provider, has raised $25 million in a Series B round led by Bessemer Venture Partners and SIG Venture Capital. The round also saw the participation of Trifecta Capital, Alteria Capital, and long-time investor Bharat Innovation Fund.
With this latest round, the startup has so far raised $35 million in funding.
Entropik says it will use the fund to build world-class products out of India, enabling the research, marketing, and product teams to move towards a more collaborative, agile, and scalable way to conduct research. The company also plans to focus on expanding across United States, Europe and Asia.
“The new round 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,” said Ranjan Kumar, Founder and CEO of Entropik.
“We believe the strength of the platform lies in its multi-modal, cross-functional capabilities,” said Anant Puri, Partner, Bessemer Venture Partners. “We are excited to see the team extend their early leadership in the customer research category while continuing to expand into other categories as well.”
Entropik, which was founded in 2016, claims to have grown ~7x in the last two years, on the back of its patented Emotion AI Technologies and its expansion into United States, Europe, Southeast Asia, and Middle East.
Over 150 global brands across finance, media, consumer goods, food and beverage, and entertainment use Entropik’s consumer research stack to make consumer-centric decisions in a fast and efficient manner, said a statement.
“Entropik provides a faster and cheaper alternative for businesses to interact and understand customer feedback,” said Bhavanipratap Rana, Investment Advisor to SIG Venture Capital. “Marketers can now measure more accurately and assess consumer feedback with Entropik’s products, like Affect UX, Labs, and Decode,” as per reported by YourStory.
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