Telecom major Bharti Airtel on December 20 said it has entered into a pact with Bengaluru-based tech startup Lemnisk to acquire a stake of 8 percent in the firm.
"We wish to inform you that the company has entered into an agreement for acquisition of ~ 8 percent stake in a technology startup, Immensitas Private Limited (Lemnisk)," it said in a regulatory filing.
The deal is subject to all applicable statutory approvals, Airtel added.
Lemnisk, notably, offers real-time marketing automation and secure customer data platform (CDP) services.
Airtel said it would work with Lemnisk to "build the world’s largest CDP". 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)", a release issued by the company added.
"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.
Lemnisk co-founder and CEO Subra Krishnan, while commenting on the investment by the telecom company, said, "Airtel’s ambition aligns with our vision to offer a single frictionless platform to super large enterprises that both organises and activates high volume and high-velocity data."
Lemnisk will work with Airtel to "unlock enormous value" from customer data "while keeping privacy and consent frameworks at the core", Krishnan added.
The investment in Lemnisk has been made under the Airtel Startup Accelerator Program, through which the company invests in early-stage startups working on technologies that add strategic value to Airtel’s business offerings.
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