An artificial intelligence-powered emotional intelligence platform – Entropik Tech, has raised $8 million (approximately Rs58.4 crore) in a series-A funding round led by Alpha Wave Incubation. The funding round also saw participation from existing investors are Bharat Innovation Fund and IDFC Parampara Fund, the startup said in a statement on Wednesday i.e. 2nd September 2020.
Entropik Tech plans to utilise the funds to expand its presence to the US, European Union and South East Asia.
The company said, “As part of this investment from Alpha Wave Incubation, Entropik will expand its presence to the US, European Union, South East Asia while leveraging Abu Dhabi as a base to scale in GCC (Gulf Cooperation Council) and MENA (Middle East and North Africa) markets.”
Entropik Tech founder and CEO Ranjan Kumar said, “We have seen a huge demand for our Emotion AI platform, achieving over 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.”