An Artificial Intelligence Analytics startup, Entropik (1) Tech tracks the emotions of the customers. The entity has raised 8 million USD in its Series A funding round. Alpha Wave Incubation (AWI), a unit of Falcon Edge Capital. The firm is backed by ADQ and has poured 300 Million USD venture capital.
Falcon Edge Capital is a worldwide alternative asset manager, and ADQ is among the largest regional holding organizations based in Abu Dhabi.
Existing investors of Entropik, such as the Bharat Innovation Fund, IDFC Parampara Fund, also participated in the latest funding round. Entropik to use its latest budget to extend its reaches in the US, EU, and SE Asia. As part of the investment from AWI, the AI-based startup will leverage Abu Dhabi as its base. It will further ramp up in MENA and GCC markets.
Furthermore, the firm will also use its latest tranche to increase its AI capabilities via its 26 million emotion session data. Entropik will use the existing data to deliver its predictive offerings.
Entropik: India to Observe Huge Growth for AI-based Entities
Rajan Kumar, Founder and CEO of Entropik, stated a massive demand for their AI-based Emotion Platform. It has achieved more than 10x revenue growth since the previous 3 FY quarters. He added that he is proud of his team for their hard work and investors for believing in Entropik’s vision.
Anirudh Singh, MD of Alpha Wave Incubation, stated that the AI-first, SaaS startup targets an enormous, multi-billion dollar market opportunity worldwide. The superior growth of Entropik is because of its stalwart customer traction and enterprise customers’ compelling ROI. The startup maintains to bring the most factual accuracy in the class, with performance metrics and customer retention.
Anirudh added that Entropik would unlock its full potential as it gets a global launch pad in Abu Dhabi. Entropik will get to increase its international growth while scaling its deep-tech capabilities with the latest fundings.