EntropikTech raises $8m in Series A funding
Entropik Tech has raised $8M in Series A funding to expand its Emotion AI platform and accelerate its growth in the US, Europe, and Asia markets.
Context The investment round was led by the $300m Alpha Wave Incubation (AWI) fund, a unit of Falcon Edge Capital and backed by ADQ India, 1 September 2020: 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 versus traditional agencies, underlining it strong ROI to customers while offering higher accuracy.Sharing his thoughts on the Series A funding, Ranjan Kumar, Founder and CEO, Entropik Tech, said, “We have seen a huge demand for our Emotion AI platform, achieving 10x+ revenue growth in the last 3 quarters. I am proud of our team for their persistence and thankful to our investors for believing in our vision.” Anirudh Singh, Managing Director, Alpha Wave Incubation, commented, “ Entropik is targeting a large, global, multi-billion dollar market opportunity which has traditionally been hard to address through technology. Entropik’s superior growth has been a result of its robust customer traction and a compelling ROI for its enterprise customers. Entropik continues to drive best-in-class accuracy, customer retention and performance metrics. We are excited for Entropik to unleash its full potential with a global launch pad in Abu Dhabi.”Having seen Entropik’s journey since early days, Ashwin Raguraman, Founding Partner – Bharat Innovation Fund, said, “Entropik has progressed phenomenally since our first round of funding, It is disrupting the customer experience testing and management space with a heady cocktail of cutting edge technologies including AI, EEG and Facial coding and is rapidly emerging as a global leader in the space. It is exciting to be a part of a new to the world effort that could help its customers build very engaging customer touchpoints and journeys.”The company works with Fortune 500 companies and includes clients like P&G, Barclays, Maersk, Accenture, Target etc. This round of funding will help further scale international growth and ramp up its deep tech capabilities.About Entropik Tech:Founded in 2016, Entropik is world’s leading Emotion AI Platform helping brands measure its customers subconscious behavior. With over 80+ Enterprise Customers across BFSI, CPG, Media & Ent. And Telecom relying on Entropik solutions to provide Consumer Insights. Entropik has 17 Global Patent claims pending in the arena of Multi Modal Emotion recognition. Among many prestigious ones, company has won Amazon AI Award 2018 and has been quoted by Gartner as India’s ‘Top 5 cool vendor in AI’ by Gartner. Currently based out of Bangalore, Company has its business presence across North America, EU and SE Asia.For more info, please visit: "https://protect-us.mimecast.com/s/QjlYC73YZOiAzJMrt80BRx?domain=entropiktech.com" www.entropiktech.com | "https://protect-us.mimecast.com/s/8pizC82WZOu6XK3mh1gnX5?domain=affectlab.io" www.affectlab.ioFor more info, please visit: "https://protect-us.mimecast.com/s/QjlYC73YZOiAzJMrt80BRx?domain=entropiktech.com" www.entropiktech.com | "https://protect-us.mimecast.com/s/8pizC82WZOu6XK3mh1gnX5?domain=affectlab.io" www.affectlab.io About Alpha Wave Incubation (AWI)Alpha Wave Incubation (AWI) is a $300m venture fund managed by Falcon Edge Capital, and backed by ADQ. AWI has a dedicated team across London, Bangalore and Abu Dhabi.The fund invests in early stage tech-enabled, disruptive start-ups in India and South East Asia. In addition to providing outstanding founders with early-stage capital, AWI offers access to an unrivaled set of support mechanisms for business-building, while also helping companies expand globally and open up new markets in the GCC/MENA region and beyond.ADQ is one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.Falcon Edge Capital is a diversified global alternative asset manager co-founded in 2012 by Rick Gerson, Navroz D. Udwadia and Ryan Khoury. Falcon Edge manages approximately $4 billion in assets across public and private markets. Falcon Edge has offices in New York, London and Bangalore. The firm offers a variety of investment products and strategies that cover a number of asset classes, themes and geographies. About Bharat Innovation Fund (BIF ) Bharat Innovation Fund backs fearless entrepreneurs building IP-driven companies of consequence from India. It is an early stage venture capital fund with a mission to invest in deeptech Indian startups who are creating breakthrough and advanced technology innovations.
