Emotion AI Startup Entropik Raises $25 Million in Series B Funding Round
Entropik, a leading AI Powered Integrated Market Research platform provider, has raised $25 million in a 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.
With this latest round of funding, Entropik is focused on disrupting consumer research and building world-class products out of India. The funding will also enable the research, marketing, and product teams to realize a more collaborative, and agile, to conduct research. The company plans on expanding its footprint across the US, Europe, and Asian markets.
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In the last 2 years, Entropik has grown 7 times, riding on its patented Emotion AI Technologies and driven by its expansion into the US, Europe, Southeast Asia, and the Middle East.
Entropik’s unique integrated research platform brings the following under one umbrella, making it a one-stop solution for marketing and product organizations.
- Quantitative surveys
- Qualitative research
- Online panel
- Patented emotion AI technologies
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.
Thoughts from the Leaders
Ranjan Kumar, Founder & CEO of Entropik, explained that in the current scenario when things are constantly evolving, brands, whose focus is understanding customer behavior and preference 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.”
Anant Puri, Partner, Bessemer Venture Partners is elated to partner with Entropik and support their mission to create a globally leading Emotion AI platform. He believes that any platform’s true strength lies in its multi-modal, cross-functional capabilities.
While speaking about Entropik, Bhavanipratap Rana, Investment Advisor to SIG Venture Capital said that the company offers a faster and cheaper alternative for businesses to interact and understand customer feedback.
In the digital era, consumer and user insights form the core of any business’s success to establish a loyal customer base. With Entropik’s products like Affect UX, Labs, and Decode, marketers can now analyze customer feedback.
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What Entropik Offers
Founded in 2016, Entropik is a leading AI-powered Integrated Market Research Platform that offers a research platform covering Quant, Qual, Behaviour Analytics, Video Interviews & Self Captures with an integrated panel under one umbrella.
The company 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’.
With facial coding, you can get real-time emotional reactions to a host of visual stimuli like ads and videos. Users can use webcams or mobile cameras to capture facial expressions. These expressions are further quantified into 7 universal emotions and categorized as positive or negative.
You can track eye gazes and movements to decipher where a user looks and for how long the user looks. With heatmaps and gaze plots, you can visualize the user’s POV and track their engagement levels.
You can convert speech-to-text instantly and observe the tone, pitch, pauses, and voice to unravel the hidden emotions in the user’s speech. After understanding the emotions, you can categorize them as positive, negative, or neutral.
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With its interesting array of services, Entropik’s is transforming user experiences and also helping brands, especially consumer-facing ones, to enhance their marketing effectiveness.
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