Total amount raised
$34.3 Million
Latest funding date
02/01/2023
Location
Entropik has successfully raised funds through six distinct funding rounds, with the latest being a Series B round. The company has attracted a diverse group of investors, including notable names like Alteria Capital and Bessemer Venture Partners.
Entropik's Decode AI platform leverages advanced technologies to transform emotions and behaviors into actionable business insights. Keep reading to explore the intricacies of Entropik's fundraising journey and the investors backing this innovative platform.
What Is Entropik?
Entropik is a private company based in Bengaluru, Karnataka, India, specializing in turning emotions and behavior into business insights through its Decode AI platform. The company operates in various industries, including Artificial Intelligence, Consumer Research, Machine Learning, Market Research, and Product Research.
Founded with the mission to enable brands to connect deeply with customers, Entropik has grown to employ between 51-100 people. The company's innovative platform helps in making faster decisions, reducing creative costs, and increasing campaign effectiveness, serving industries such as CPG, Technology & Software, Healthcare & Pharma, Financial Services, and Retail & E-commerce.
How Much Funding Has Entropik Raised?
- Series B
- Amount Raised: USD 25,000,000
- 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 in the US, Europe, and Asia.
- Grant
- Amount Raised: USD 25,000
- Date: January 2021
- Lead Investors: Flipkart Leap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and market entry.
- Series A
- Amount Raised: USD 8,000,000
- Date: September 2020
- Lead Investors: Alpha Wave Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop their Emotion AI technology.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth.
- Seed
- Amount Raised: USD 1,100,000
- Date: July 2018
- Lead Investors: Bharat Innovation Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Seed
- Amount Raised: USD 200,000
- Date: November 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development.
Entropik has raised a total of USD 34,325,000. The current valuation is 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 been a significant player in the venture capital space for decades.
- Investment Focus Areas: Technology, healthcare, financial services, consumer sectors
- Notable Investments: LinkedIn, Shopify, Pinterest
- SIG Venture Capital
- Details: SIG Venture Capital is the venture capital arm of Susquehanna International Group, focusing on high-growth technology companies. They are known for their strategic investments in innovative tech startups.
- Investment Focus Areas: Technology, innovation-driven companies
- 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 in need of growth capital.
- Investment Focus Areas: High-growth startups, 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 structured debt solutions to high-potential startups.
- Investment Focus Areas: Startups requiring growth capital, technology, innovation
- Notable Investments: Dunzo, Lendingkart, Rebel Foods
- Bharat Innovation Fund
- Details: Bharat Innovation Fund is an early-stage venture fund that invests in deep-tech and IP-driven startups. They focus on fostering innovation and supporting startups with significant technological advancements.
- Investment Focus Areas: Deep-tech, IP-driven startups, innovation
- Notable Investments: Detect Technologies, Entropik, CreditVidya
What's Next for Entropik?
Entropik stands at the cusp of significant opportunities, poised to expand its footprint across the US, Europe, and Asia. With its patented Emotion AI technology, the company aims to revolutionize consumer research for global brands, offering faster and more accurate insights. This expansion is bolstered by a robust growth trajectory, having scaled seven times in the past two years and serving over 150 global brands.
Future fundraising appears promising, as the company’s rapid growth and ambitious plans suggest the need for additional capital to support further expansion and technological advancements. Investors' confidence, demonstrated by the recent $25 million Series B round, indicates a strong potential for subsequent funding rounds.
However, Entropik faces challenges in maintaining its growth momentum and scaling operations effectively in diverse markets. The company must continuously innovate to stay ahead of competitors and navigate regulatory environments, ensuring data privacy and compliance. Despite these hurdles, Entropik's strategic vision and technological prowess position it well for future success.
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