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Economy & Business

Airtel acquires Lemnisk share to develop largest customer data platform

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The Hawk
December20/ 2022

New Delhi (The Hawk): Bharti Airtel announced on Tuesday that it has paid an undisclosed price for a strategic investment in Lemnisk (Immensitas Private Limited), with the goal of creating the largest customer data platform (CDP) in the world.

Lemnisk, based in Bengaluru, delivers secure CDP and real-time marketing automation, enabling scaled 1-to-1 personalization and cross-channel customer journeys that boost business conversion, customer retention, and growth.

According to Adarsh Nair, CEO of Airtel Digital, "Lemnisk's real-time marketing automation engine is a natural fit for us, as over 350 million customers connect with businesses everyday through many contact points."

Together, they will develop the largest CDP platform in the world for all of Airtel's digital businesses, including ad-tech (Airtel Ads), digital entertainment (Wynk Music and Airtel Xstream), and digital marketplace (Airtel Thanks App).

Future plans call for Airtel to make this service available to its business customers through Airtel IQ, its network-integrated Cloud Platform as a Service (CPaaS).

According to the company, the platform would give businesses the chance to develop a quick, scalable, and multichannel client engagement.

"Our goal of providing super big organisations with a single frictionless platform that organises and activates high volume, high velocity data is aligned with Airtel's mission. Together, we can accomplish a lot of wonderful things "Lemnisk's co-founder and CEO, Subra Krishnan, remarked.

The Airtel Startup Accelerator Program makes investments in early-stage entrepreneurs developing technologies that enhance Airtel's commercial services strategically.

Through the initiative, companies have the chance to make their technology and applications available to over 350 million retail customers and one million businesses.

(Inputs from Agencies)