Total amount raised
$34.3 Millions
Latest funding date
02/01/2023
Location
Entropik has successfully raised significant funding over multiple rounds, with its latest being a Series B. The company specializes in AI-powered integrated market research platforms, offering products like AffectLab and Decode for comprehensive consumer insights.
Keep reading to explore the intricacies of Entropik's fundraising journey and the investors backing this innovative platform.
What Is Entropik?
Entropik, founded in 2016, is a leading player in the AI-powered consumer and user experience research industry. Based in Bengaluru, Karnataka, India, the company was established by Bharat Shekhawat, Lava Kumar, and Ranjan Kumar.
With an employee count ranging between 101-250, Entropik specializes in real-time measurement and optimization of customer experience (CX), user experience (UX), and market research (MR). The company leverages advanced AI technologies, including Emotion AI, Generative AI, and Predictive AI, to provide comprehensive insights for various industries.
How Much Funding Has Entropik Raised?
- Seed Round
- Amount Raised: $200K
- Date: November 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI-powered market research platform.
- Seed Round
- Amount Raised: $1.1M
- Date: July 2018
- Lead Investors: Bharat Innovation Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and initial market entry.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop their AI technologies.
- Series A
- Amount Raised: $8M
- Date: September 2020
- Lead Investors: Alpha Wave Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and technology development.
- Grant
- Amount Raised: $25K
- Date: January 2021
- Lead Investors: Flipkart Leap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific project development and innovation.
- Series B
- Amount Raised: $25M
- Date: February 2023
- Lead Investors: Bessemer Venture Partners, SIG Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To disrupt consumer research, build world-class products, and expand their footprint in the US, Europe, and Asian markets.
Total Amount Raised: $34.325M. Current Valuation: Not publicly disclosed.
Key Investors
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a leading venture capital firm that invests in early-stage companies across various sectors. They have a long history of partnering with entrepreneurs to build and grow their businesses.
- Investment Focus Areas: Technology, healthcare, financial services, consumer sectors.
- Notable Investments: LinkedIn, Pinterest, Shopify, Twilio.
- SIG Venture Capital
- Details: SIG Venture Capital is the venture capital arm of Susquehanna International Group, focusing on early to growth-stage investments. They are known for their strategic investments in technology and innovation-driven companies.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: ByteDance (TikTok), Meituan-Dianping, Kuaishou.
- Trifecta Capital
- Details: Trifecta Capital is a venture debt firm that provides financing solutions to high-growth companies. They offer structured debt solutions to startups to help them scale efficiently.
- Investment Focus Areas: High-growth startups across various sectors.
- Notable Investments: BigBasket, UrbanClap, CarDekho.
- Alteria Capital
- Details: Alteria Capital is a venture debt fund that supports startups with flexible financing options. They focus on providing debt financing to high-growth startups.
- Investment Focus Areas: Technology, consumer, healthcare sectors.
- Notable Investments: Dunzo, Lendingkart, Rebel Foods.
- Bharat Innovation Fund
- Details: Bharat Innovation Fund is an early-stage venture capital fund that invests in deep-tech and IP-driven startups. They focus on fostering innovation-led companies in India.
- Investment Focus Areas: Deep-tech, IP-driven startups, innovation-led companies.
- Notable Investments: Detect Technologies, CreditVidya, Entropik.
What's Next for Entropik?
Entropik stands at the cusp of significant opportunities, poised to expand its footprint across the US, Europe, and Asian markets. With a 7x growth in the last two years and over 150 global brands utilizing its platform, the potential for disrupting consumer research is immense. The company aims to leverage its patented Emotion AI technologies to build world-class products and enable more collaborative, agile, and scalable approaches for research, marketing, and product teams.
Given the rapid growth and ambitious expansion plans, future fundraising opportunities seem likely. Additional funding rounds could support further technological advancements and market penetration. However, Entropik may face challenges such as maintaining the quality of their offerings, navigating competitive pressures, and ensuring continuous innovation. As the market for AI-powered consumer insights expands, Entropik's ability to stay ahead of industry trends will be crucial for sustained success.
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