India’s telecom operator Bharti Airtel on Tuesday announced it had acquired a strategic stake in Lemnisk (Immensitas Private Limited) under its Start-Up Accelerator Programme.
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.
Lemnisk is a Bengaluru-based start-up that offers real-time marketing automation and a 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.
According to an official statement by the telecom operator, the announced deal is subject to all applicable statutory approvals.
Airtel and Lemnisk will work together to build world’s largest CDP platform. 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 the 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 offer enterprises an opportunity to create a nimble, scalable, and omni-channel engagement for their customers.
According to Adarsh Nair, CEO at Airtel Digital,
“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 world’s largest CDP platform. Lemnisk’s real time marketing automation engine is a natural fit for us , where over 350 million customers interact with brands daily through multiple touch points.”
Subra Krishnan, Co-founder & CEO at Lemnisk said:
“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 organize and activates high volume and high velocity data. We are looking forward to achieving great things together.”
The Airtel Startup Accelerator Program, 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 allows startups to deploy their technologies and applications at a massive scale, including 350M+ retail customers and 1M+ businesses.
In addition to funding, the program offers mentorship from Airtel’s leadership team and access to Airtel’s global strategic partners.