Discover the Future of Emotion AI with Entropik

Table of Contents

1. Introduction
2. Entropic Tech: An Overview
3. Fundraising and Valuation
4. Understanding Entropic Tech's AI Technology
   • How Entropic Tech Tracks User Behavior
   • Analyzing Face Expressions, Eye Movement, and Voice
5. Revenue Streams and Market Focus
   • Revenue Breakdown by Region
   • Key Customers and Success Stories
   • Market Expansion and Growth Strategy
6. Strategic Partnerships and Tie-ups
   • The Partnership with WebEx Developer Program
   • Integrating Chat GPT for Conversational Insights
7. Government Initiatives and Budget Impact
   • Boosting Digital Infrastructure and AI Technology
   • Addressing Job Creation and Layoffs in the Startup World
8. Founding Journey and Lessons Learned
   • Previous Startup Ventures
   • Growth and Transformation into Entropic Tech
9. Future Goals and Fund Utilization
   • Targeted Growth and Expansion Plans
   • Predictive Technology and Integrated Consumer Research Platform
   • Investment Focus on Product Development and Business Expansion

Entropic Tech: Revolutionizing Market Research with AI

In today's digital age, companies are constantly seeking innovative ways to gain a competitive edge in understanding consumer behavior. Bengaluru-Based startup, Entropic Tech, has emerged as a frontrunner in the field of AI-based online market research. With a recent fundraising of $25 million, the company aims to revolutionize the way brands analyze consumer sentiment and decipher their emotional responses to products and advertisements.

Fundraising and Valuation

Entropic Tech recently concluded its Series B funding round, raising a total of $25 million. The funding was led by Bessemer and Sig Partners, both renowned investors in the tech industry. With this infusion of capital, Entropic Tech aims to enhance its technology product, Scale its operations across multiple geographies, and consolidate its position as a leader in AI-based market research.

Understanding Entropic Tech's AI Technology

Central to Entropic Tech's success is its proprietary multimodal emotion AI technology. Utilizing webcam feeds, the company tracks users' facial expressions, eye movements, and voice tones as they Interact with various products and advertisements. This groundbreaking approach allows brands to gain valuable insights into users' Attention levels, engagement, and emotional responses. By analyzing this data, Entropic Tech provides actionable recommendations to improve advertisements and product experiences.

The technology is deployed with the consent of a dedicated user panel, ensuring user privacy and confidentiality. With its patented technology and data-driven approach, Entropic Tech offers a unique and powerful solution for brands seeking more accurate and nuanced understanding of consumer behavior.

Revenue Streams and Market Focus

Entropic Tech derives approximately 70% of its revenue from the United States and Europe, with the remaining generated from India and Southeast Asia. This distribution highlights the significant market appetite for AI-based market research in developed regions. The company's technology has garnered traction among leading consumer brands, including Lego, Barclays, P&G, Flipkart, and more. With over 150 global consumer brands utilizing their services across various industries, Entropic Tech has established itself as a trusted partner in enhancing marketing and product experiences.

While the majority of customers come from the U.S. and Europe, Entropic Tech also emphasizes market growth and adoption in India and Southeast Asia. As these regions evolve as fast-moving markets, the company aims to further consolidate its presence by expanding its customer base and addressing the unique challenges and demands of these markets.

Strategic Partnerships and Tie-ups

In their pursuit of industry leadership, Entropic Tech has formed strategic partnerships with prominent industry players such as Cisco, Microsoft, Zoom, and Slack. These collaborations aim to integrate Entropic Tech's AI technology into various communication platforms, enabling comprehensive analysis of user behavior, emotional responses, and engagement during audio and video conversations. By leveraging these partnerships, Entropic Tech expands its influence and empowers brands to unlock valuable insights from remote digital conversations.

Additionally, the company is working on incorporating OpenAI's chatbot AI, known as Chat GPT, to enhance its conversational platform called Decode. This integration will provide users with more structured and conversational querying capabilities, enabling them to access actionable insights more efficiently.

Government Initiatives and Budget Impact

Entropic Tech welcomes the Indian government's efforts in strengthening the digital infrastructure and promoting AI technology. The measures outlined in the budget, such as the establishment of AI centers of excellence, offer a robust foundation for startups like Entropic Tech to build AI-based services and solutions. These initiatives Create a conducive ecosystem for continued growth and innovation in the AI sector.

With regard to job creation and concerns about layoffs in the startup ecosystem, Entropic Tech believes that responsibility lies not only with the government but also with companies. By adopting a frugal and consistent approach to business operations, maintaining solid foundations, and planning for scalability, startups can mitigate job attrition and foster a growth-oriented ecosystem.

Founding Journey and Lessons Learned

Prior to launching Entropic Tech, founder Ranjan Kumar had co-founded other startups, such as Red Castle and Oil Party. These early ventures provided invaluable lessons on building and scaling businesses. Although these previous ventures had their own share of success, Kumar realized the importance of differentiation and sustainable scaling. These learnings were instrumental in shaping the vision and growth strategy of Entropic Tech.

Future Goals and Fund Utilization

Having achieved remarkable growth in the past two years, Entropic Tech aims to maintain its upward trajectory. With a target of 3X growth in the coming year, the company plans to consolidate various tools into an AI-powered integrated consumer research platform. This platform will offer flexibility and modular usage options for customers, empowering them to leverage Entropic Tech's advanced AI technology for predictive insights.

The funds raised in the recent round will be utilized for strategic investments. One key focus will be enhancing the prediction capabilities of Entropic Tech's technology, enabling it to recommend actionable changes to advertising campaigns for improved viewership. Additionally, the company will allocate resources to further develop their product suite, including effective QX for user experience testing and Decode for conversational analysis. Lastly, Entropic Tech aims to expand its business footprint in the United States and Europe while consolidating its presence in Southeast Asia, particularly in regions like Singapore, Thailand, and the Philippines.

With its combination of cutting-edge technology, strategic partnerships, and a customer-centric approach, Entropic Tech is poised to revolutionize market research and empower brands to make data-driven decisions that resonate with consumers. Through its continued innovation and pursuit of customer success, Entropic Tech is set to leave a lasting imprint on the future of AI-driven market research.

Highlights

• Bengaluru-based Entropic Tech raises $25 million in Series B funding to advance its AI-based online market research solutions.
• Entropic Tech's patented multimodal emotion AI technology tracks facial expressions, eye movements, and voice tones to analyze users' engagement and emotional responses.
• With a customer base of over 150 global brands, including Lego, Barclays, and P&G, Entropic Tech offers actionable insights to enhance marketing and product experiences.
• Strategic partnerships with Cisco, Microsoft, Zoom, and Slack enable Entropic Tech to integrate its AI technology into various communication platforms.
• Entropic Tech has grown its revenue by over 7 times in the last two years, while maintaining an 85% gross margin.
• The company aims to achieve 3X growth in the coming year and consolidate its tools into an integrated consumer research platform.
• The funds raised will be utilized for the development of predictive technology, product portfolio expansion, and business expansion in the United States, Europe, and Southeast Asia.

FAQ

Q: What sets Entropic Tech apart from traditional market research methods?

• Entropic Tech utilizes AI technology to track users' facial expressions, eye movements, and voice tones, providing a more accurate understanding of consumer behavior compared to surveys or focus group discussions.

Q: Which regions contribute the majority of Entropic Tech's revenue?

• Around 70% of Entropic Tech's revenue comes from the United States and Europe, reflecting the high demand for AI-based market research in these developed regions.

Q: What are some of Entropic Tech's strategic partnerships?

• Entropic Tech has formed partnerships with industry leaders such as Cisco, Microsoft, Zoom, and Slack to integrate its AI technology into communication platforms, enabling comprehensive analysis of consumer behavior during audio and video conversations.

Q: What are the future goals of Entropic Tech?

• Entropic Tech aims to achieve 3X growth in the coming year and consolidate its tools into an AI-powered integrated consumer research platform. The company also plans to expand its business presence in the United States, Europe, and Southeast Asia.

Q: How does Entropic Tech ensure user privacy when tracking facial expressions and voice tones?

• Entropic Tech obtains consent from a dedicated user panel to track their facial expressions and voice tones during market research activities, ensuring privacy and confidentiality. This approach prevents live users' data from being used without consent.