Entropik Tech Raises $8m In Series A Funding
Entropik Tech, a leading Emotion AI company based out of Bangalore, India, has raised USD 8 million as part of its Series A Funding. The investment round was led by Alpha Wave Incubation (AWI), a $300m venture fund, managed by Falcon Edge Capital, a leading global alternative asset manager, and backed by ADQ, one of the largest regional holding companies based in Abu Dhabi. The round was also participated in by existing investors, Bharat Innovation Fund, who increased their stake in the company and IDFC Parampara Fund.
Through its AI-first SaaS based technology platform, Entropik plugs a critical gap in the consumer insights and research industry. With over 17 patent claims in facial coding, brainwave tracking, and eye tracking, Entropik is poised to disrupt the $30bn consumer insights industry.
The company’s flagship product, affectlab.io, allows consumer brands to measure and interpret the consumer’s subconscious and emotional behavior across various touch points. Brands see up to 75% ROI uplift on marketing spends, 16% improvement in customer drop off rate and 35% improvement in customer satisfaction scores.
As part of this investment from AWI, Entropik will expand its presence to US, EU, SE Asia while leveraging Abu Dhabi as base to scale in GCC, MENA markets. In addition, Entropik plans to utilize the funds to deepen its AI capabilities, leveraging its current 26 mil+ Emotion session Data sets to deliver predictive offerings.