Bharti Airtel acquires a minority stake, 8% in Lemnisk, under Airtel’s startup accelerator program to develop a Customer Data Platform (CDP). The deal is subject to all appropriate statutory clearances.
“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.” said Adarsh Nair, CEO of Airtel Digital
Lemnisk, a Bengaluru-based tech startup that offers Real-Time Marketing Automation and a Customer Data Platform (CDP).
As per the agreement, Airtel and Lemnisk will work together to build the world’s largest CDP platform. This will be done across Airtel’s digital businesses, including Airtel Ads, Wynk Music, and Airtel Xstream, and Airtel Thanks App.
In the future, Airtel intends to offer this service to its enterprise clients through Airtel IQ, a network-integrated Cloud Platform as a Service (CPaaS).
Subra Krishnan, Co-founder & CEO of 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 organizes 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 startups working on technologies that add strategic value to Airtel’s business offerings.