Airtel acquires 8% stake in Bengaluru-based Lemnisk – Particulars Inside | Corporations Information
New Delhi: Telecom operator Bharti Airtel has acquired a strategic stake of round 8 per cent in Lemnisk below its startup accelerator programme for an undisclosed quantity, the corporate mentioned on Tuesday. Bengaluru-based Lemnisk provides real-time advertising and marketing automation and safe Buyer Information Platform (CDP) able to orchestrating one-to-one personalisation and cross-channel buyer journeys at scale that will increase conversions, retention and progress for enterprises.
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“We’re delighted to welcome Lemnisk into the Airtel startup accelerator programme and be part of our digital innovation engine. We see nice potential on this alliance and along with Lemnisk we goal to create world’s largest CDP platform. Lemnisk’s real-time advertising and marketing automation engine is a pure match for us, the place over 350 million prospects work together with manufacturers day by day by a number of contact factors,” Airtel Digital CEO Adarsh Nair mentioned in a press release.
In a regulatory submitting, the corporate disclosed that it has acquired round 8 per cent stake within the startup in an all-cash deal with out disclosing the monetary particulars. Lemnisk has places of work in Singapore, Dubai, Boston and Bengaluru. The corporate will construct CDP platform throughout Airtel’s digital companies, together with ad-tech (Airtel Advertisements), digital leisure (Wynk Music and Airtel Xstream), and digital market (Airtel Thanks app).
In future, Airtel plans to supply this service to its enterprise prospects by community built-in cloud platform as a service Airtel IQ. The platform will provide enterprises a possibility to create a nimble, scalable and omni-channel engagement for its prospects.
“My co-founders, Rinku Ghosh and Praveen D S, and I are very excited to strategically accomplice with Airtel and work collectively to unlock monumental worth from buyer knowledge, whereas holding privateness and consent frameworks on the core. Airtel’s ambition aligns with our imaginative and prescient to supply a single frictionless platform to tremendous massive enterprises that each organizes and prompts excessive quantity and excessive velocity knowledge,” Lemnisk co-founder & CEO Subra Krishnan mentioned.
