te Startup accelerator programme: Bharti Airtel acquires about 8 per cent stake in Bengaluru-based Lemnisk | Zee Business

Startup accelerator programme: Bharti Airtel acquires about 8 per cent stake in Bengaluru-based Lemnisk

Bengaluru-based Lemnisk offers real-time marketing automation and secure Customer Data Platform (CDP) capable of orchestrating one-to-one personalisation and cross-channel customer journeys at scale that increases conversions, retention and growth for enterprises.

Startup accelerator programme: Bharti Airtel acquires about 8 per cent stake in Bengaluru-based Lemnisk
Telecom operator Bharti Airtel has acquired a strategic stake of around 8 per cent in Lemnisk under its startup accelerator programme for an undisclosed amount, the company said on Tuesday.

Telecom operator Bharti Airtel has acquired a strategic stake of around 8 per cent in Lemnisk under its startup accelerator programme for an undisclosed amount, the company said on Tuesday.

Bengaluru-based Lemnisk offers real-time marketing automation and secure Customer Data Platform (CDP) capable of orchestrating one-to-one personalisation and cross-channel customer journeys at scale that increases conversions, retention and growth for enterprises.

"We are delighted to welcome Lemnisk into the Airtel startup accelerator programme 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," Airtel Digital CEO Adarsh Nair said in a statement.

TRENDING NOW

In a regulatory filing, the company disclosed that it has acquired around 8 per cent stake in the startup in an all-cash deal without disclosing the financial details.

Lemnisk has offices in Singapore, Dubai, Boston and Bengaluru.

The company will build CDP platform 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 network integrated cloud platform as a service Airtel IQ. The platform will offer enterprises an opportunity to create a nimble, scalable and omni-channel engagement for its customers.

"My co-founders, Rinku Ghosh and Praveen D S, 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. 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," Lemnisk co-founder & CEO Subra Krishnan said.

 

Written By: PTI
Updated: Tue, Dec 20, 2022
05:50 pm
PTI
RELATED NEWS
As a telecom stock hits a 52-week high and others are closer, here’s how brokerages including Jefferies see them perform As a telecom stock hits a 52-week high and others are closer, here’s how brokerages including Jefferies see them perform
Bharti Airtel soars to 52-week high after BofA Securities upgrades its rating, revises target Bharti Airtel soars to 52-week high after BofA Securities upgrades its rating, revises target
Mcap of 6 of top-10 most valued firms decline by Rs 57,408 crore; TCS, HDFC Bank major laggards Mcap of 6 of top-10 most valued firms decline by Rs 57,408 crore; TCS, HDFC Bank major laggards
Mcap of 8 of top-10 most valued firms jumps Rs 1.29 lakh crore; HDFC Bank biggest gainer Mcap of 8 of top-10 most valued firms jumps Rs 1.29 lakh crore; HDFC Bank biggest gainer
Bharti Airtel, IDFC First Bank fall as Warburg Pincus set to sell its stake in cos Bharti Airtel, IDFC First Bank fall as Warburg Pincus set to sell its stake in cos

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x