AI analytics startup Entropik Tech raised $8mn in Series A round
Entropik Tech, a startup that uses artificial intelligence (AI) to track consumer's emotional response, has raised $8 mn as part of its Series A funding. The investment round was led by Alpha Wave Incubation (AWI).The round also saw participation of existing investors Bharat Innovation Fund, which increased its stake in the company, and IDFC Parampara Fund.
As part of this investment from AWI, Entropik will expand its presence to the US, EU, and SE Asia, while leveraging Abu Dhabi as a base to scale in GCC and MENA markets. In addition, Entropik plans to utilise the funds to deepen its AI capabilities, leveraging its current 26 mn emotion session data sets to deliver predictive offerings.
Ranjan Kumar, Founder and CEO, Entropik Tech, said, “We have seen a huge demand for our Emotion AI platform, achieving over 10x revenue growth in the last three quarters. I am proud of our team for its persistence and thankful to our investors for believing in our vision.”