Telecom operator Bharti Airtel announced Tuesday that it has acquired a strategic stake in Lemnisk as part of its startup accelerator program.
Lemnisk is a Bangalore-based tech startup that provides real-time marketing automation and a secure customer data platform (CDP) to deliver 1-to-1 personalized and cross-channel customer journeys at scale to increase conversion, retention, and growth. For businesses, Airtel said in a statement.
As part of Airtel Digital, Airtel’s Startup Accelerator program invests in early-stage startups developing technologies that add strategic value to Airtel’s business services. Startups can use the program to scale their use of technologies and applications.
According to a statement released on Tuesday, the acquisition will build a customer data platform (CDP) across the carrier’s digital divisions, including Ad-tech (Airtel Ads) and Digital Entertainment (Wynk Music and Airtel Xstream) and digital marketplace (Airtel Thank app).
CDP is a set of software that consolidates and continuously creates client databases and makes them available to other systems. Combine data from multiple sources to create a single customer profile. This organized information can be used in other demo platforms.
Speaking about the investment, Adarsh Nair, CEO – of Airtel Digital said: “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 the world’s largest CDP platform.”
According to Subra Krishnan, Co-founder, and CEO, Lemnisk: “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 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.”
