Airtel acquires strategic stake in Lemnisk
- ByStartupStory | December 21, 2022
Following the acquisition of a strategic stake in blockchain technology startup Aqilliz in February, Airtel is set to acquire a strategic stake in Bengaluru-based tech startup Lemnisk through Airtel’s Startup Accelerator Program. The Airtel Digital program invests in technology-led early-stage startups and provides them with the opportunity to deploy their technologies and applications on a massive scale, including over 350 million retail customers and one million businesses.
The communication solution company hasn’t disclosed the deal. However, a report by the Press Trust of India (PTI) states that the stake of acquisition is over 8 per cent.
Lemnisk is the world’s first real-time marketing automation platform, built on an Intelligent and Secure Customer Data Platform, that orchestrates 1-to-1 personalization and cross-channel customer journeys at scale, increasing enterprise conversion, retention, and growth. Immensities Pvt Ltd owns and operates it.
According to a press release, Airtel and Lemnisk will collaborate to build the world’s largest CDP platform. This will be implemented across all of Airtel’s digital businesses, including ad-tech (Airtel Ads), digital entertainment (Wynk Music and Airtel Xstream), and digital marketplaces (Airtel Thanks App).
Furthermore, in interviews with various media outlets, Subra Krishnan Co-founder and CEO, Lemnisk said, “Airtel’s ambition aligns with our vision to offer a single frictionless platform to super large enterprises that both organises and activates high volume and high-velocity data. We are looking forward to achieving great things together.”
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