Airtel acquires strategic stake in Bengaluru-based tech startup Lemnisk

As a component of Airtel Digital, the Airtel Startup Accelerator Programme makes investments in early-stage start-ups that are developing technologies that add strategic value to Airtel’s business offerings. Startups can use the program to scale up the use of their technologies and applications.

According to a statement released on Tuesday, the telco will use this acquisition to work toward the creation of a customer data platform (CDP) across its digital businesses, which include Ad-tech (Airtel Ads), Digital Entertainment (Wynk Music and Airtel Xstream), and Digital Marketplace (Airtel Thanks App).

A CDP is a collection of software that makes a unified, persistent, and accessible to other systems customer database. It creates a single customer profile by combining data from multiple sources. This organized information is then made accessible to other showcasing frameworks.

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.

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.” 

With inputs from agencies*

This story has been published from a wire agency feed without modifications to the text.