Entropik Tech, a startup that provides brands with insights on consumer behaviour based on their emotional responses, has raised over Rs 200 crore—$25 million—in Series B funding.
The round was led by Bessemer Venture Partners and SIG Venture Capital, with participation from Trifecta Capital, Alteria Capital, and existing investor Bharat Innovation Fund.
Founded in 2016, the market research platform provider uses its patented Emotion AI Technologies to analyse consumers' subconscious behaviour using facial coding, brainwaves, and eye tracking. The feedback helps brands and companies tweak their advertising campaigns and helps in media testing.
Since then, Entropik has become integrated with quantitative surveys, qualitative research, an online panel, and patented emotion AI technologies, all available on one platform. The Mumbai-based company claims to have over 150 clients across sectors and has expanded to the U.S., Europe, Southeast Asia, and the Middle East.
The startup has now raised about $35 million since its inception. It said it will use the latest funding to continue building products for "a more scalable way to conduct research and expand across the U.S., Europe, and Asian markets."
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