Bengaluru-based Entropik has raised $25 million in a Series B funding round led by Bessemer Venture Partners and SIG Venture Capital. Trifecta Capital, Alteria Capital and Bharat Innovation fund also participated in the round.
Entropik will utilise the newly-generated fund to diversify its product portfolio. Additionally, the company will spend money to add innovation to its research teams. It will also expand its services across the United States (US), Europe and Asian markets.
Founded in 2016, the company is known for leveraging its consumer research stack to more than 150 global brands across categories like finance, media, consumer goods, food and beverages and entertainment. It has claimed that it has achieved a 7x growth in the last two years.
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Talking about the latest development, Ranjan Kumar, founder and CEO of Entropik, said, "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 also 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.”
“Marketers can now measure more accurately and assess consumer feedback with Entropik's products, like Affect UX, Labs, and Decode. We are excited to invest and support the team at Entropik as they expand into new markets,” Bhavanipratap Rana, Investment Advisor to SIG Venture, said.
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“Entropik has grown tremendously, powered by its DeepTech solutions and a high-quality, continuously evolving team. In enabling brands to improve their customers' experiences, they are the engine powering how customers interact with their brands better. Their multimodal platform encompassing brainwave mapping, facial coding and voice tonality is globally unique” Ashwin Raguraman, co-founder and partner of Bharat Innovation Fund, said
