Entropik raises Rs 60 Cr Series A round; valuation soars by 10X to Rs 300 Cr

According to Startup Funding News, an artificial intelligence startup ‘Entropik’ to trace consumers’ emotional response, has raised Rs 60 crore in its Series A funding round. It is led by brain wave Incubation with participation from existing backers. This is often the third external investment round for the Bengaluru-based company in its four years since its inception, as per Startup News India.

Alpha Wave Incubation has invested Rs 35.52 crore. In comparison, existing backers Bharat Innovation Fund and Parampara Early Stage have poured in Rs 18.63 crore and Rs 3.75 crore respectively, as per Startup Funding News. Entropik has allotted 6138 Series A CCPS at a difficulty price of Rs 97,599.35 per share to lift the quantity, regulatory filings show. Startup News India’s calculation estimates that the corporate has been valued at around Rs 300 crore – post-money – a 10 X increases from Rs 30 crore in its seed funding round.

Previously, Entropik had raised $1.1 million pre-Series A round from Bharat Innovation Fund, and Parampara Capital in July 2018 and its seed funding of $150K came in November 2016. As per Startup News India, In 2016, With Ranjan Kumar and Bharat Singh, Entropik uses facial coding, brainwave, and eye-tracking to interpret the consumers' subconscious and emotional behaviour across various touchpoints for advertising, media testing, audience response, and for other research and insights across BFSI, media & entertainment, telecom, and other sectors, as per Startup Funding News.

 As per Startup Funding India, Counting Myntra, Fortune, Vodafone, JP Morgan, and Bank Bazaar in its primary clientele list, Entropik has collected 16 million unique human emotion data with 3.5 million minutes of experience testing and 0.2 million video testing done to this point. As mentioned by Startup News India, the platform had also made its international presence in SE Asia and North America recently in 2019.

 

Post the newest allotment, the collective holdings of the promoters has been diluted from 40.63% to 32.5%, according to startup funding news. Kumar now holds a 29.92% stake whereas Singh includes a 2.6% share within the company. Bharat Innovation Fund owns 20.63%, followed by brain wave with 12.55%. Its ESOP pool constitutes 11.74% while SEA Global, Dileep Bhatt, Jitendra Gupta, et al. own single-digit stakes amounting to 16.54% in total.

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