Bharti Airtel has acquired a strategic stake in Lemnisk (Immensitas Private Limited) under its StartUp Accelerator Program.
Through this acquisition, the telco will work towards creating a customer data platform (CDP) across its digital business including Ad-tech (Airtel Ads), Digital Entertainment (Wynk Music and Airtel Xstream) and Digital Marketplace (Airtel Thanks App), it said in a statement Tuesday.
A CDP is a collection of software which creates a persistent, unified customer database that is accessible to other systems. It pulls data from multiple sources and combines it to create a single customer profile. This structured data is then made available to other marketing systems.
Going forward, Airtel plans to offer the CDP service to its enterprise customers through Airtel IQ, its integrated Cloud Platform as a Service (CPaaS) vertical.
Lemnisk is a Bengaluru based start-up that offers real-time marketing automation and a CDP which can create 1-to-1 personalization and cross-channel customer journeys.
Adarsh Nair, chief executive, Airtel Digital said, “We see great potential in this alliance and together with Lemnisk we aim to create the 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.”
Subra Krishnan, co-founder and chief executive, Lemnisk said, “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 is part of Airtel Digital. Through this programme, the telco invests in early-stage start-ups working on technologies that add strategic value to Airtel’s business offerings.
Source: Economic Times