AI-driven market research platform Entropik raises $25 mn

Bengaluru, Feb 8 AI-powered integrated market research platform Entropik on Wednesday said it has raised $25 million in a Series B funding led by Bessemer Venture Partners and SIG Venture Capital.

Entropik said it has grown seven times 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.

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.

"The world is evolving fast, and brands, whose foundation is understanding its consumer preference and behaviour, are failing to deliver meaningful experiences 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.

The round also saw participation from Trifecta Capital, Alteria Capital, and long-time existing investor Bharat Innovation Fund.

"We believe the strength of the platform lies in its multi-modal, cross-functional capabilities. 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," said Anant Puri, Partner, Bessemer Venture Partners.

With this latest round of funding, Entropik said it will continue to disrupt consumer research for global brands and build world-class products out of India, enabling research, marketing, and product teams to move towards a more collaborative, agile, and scalable way to conduct research.

Headquartered in Bengaluru, the company has a business presence across the US, Canada, Europe, the Middle East and Asia.