Airtel acquires strategic stake in Bengaluru-based tech startup Lemnisk
Dec 20, 2022
New Delhi [India], December 20 : Telecom operator Bharti Airtel on Tuesday announced that it has acquired a "strategic stake" in Lemnisk (Immensitas Private Limited) under its Start-Up Accelerator Programme.
The Airtel Startup Accelerator Programme, a part of Airtel Digital, invests in early-stage start-ups working on technologies that add strategic value to Airtel's business offerings. The program gives startups the opportunity to deploy their technologies and applications at a massive scale.
The announced deal, according to an official statement by the telecom operator, is subject to all applicable statutory approvals.
Lemnisk is a Bengaluru-based start-up that offers real-time marketing automation and secure customer data platform (CDP) capable of orchestrating 1-to-1 personalization and cross-channel customer journeys at a scale that increases conversions, retention, and growth for enterprises, the statement by Airtel said.
"This will be done across Airtel's digital businesses including Ad-tech (Airtel Ads), Digital Entertainment (Wynk Music and Airtel Xstream) and Digital Marketplace (Airtel Thanks App). In future, Airtel plans to offer this service to its enterprise customers through Airtel IQ, which is the world's first network-integrated Cloud Platform as a Service (CPaaS). The platform will allow enterprises to create a nimble, scalable, and omni-channel engagement for its customers," it added.
Speaking about the investment, Adarsh Nair, CEO - of Airtel Digital said: "We are delighted to welcome Lemnisk into the Airtel Start-Up accelerator program and be a part of our digital innovation engine. We see great potential in this alliance and together with Lemnisk we aim to create the world's largest CDP platform."
Nair added Lemnisk's real-time marketing automation engine is a natural fit for Airtel, where over 350 million customers interact with brands daily through multiple touch points.
According to Subra Krishnan, Co-founder and CEO, Lemnisk: "My co-founders, Rinku Ghosh and Praveen DS, and I are very excited to strategically partner with Airtel and work together to unlock enormous value from customer data, while keeping privacy and consent frameworks at the core."
"There is really no global parallel for what Airtel wants to achieve, and that is inspiring for us. Airtel's ambition aligns with our vision to offer a single frictionless platform to super large enterprises that both organizes and activates high volume and high velocity data. We are looking forward to achieving great things together."
