Bharti Airtel made the announcement on Tuesday that it has purchased an eight percent interest in the technology startup Lemnisk as part of Airtel’s Start Up Accelerator Program.
Lemnisk is a young company with its headquarters in Bengaluru that provides real-time marketing automation and a secure client data platform (CDP). Airtel and Lemnisk have agreed to collaborate on the development of the world’s most extensive CDP platform. All of Airtel’s digital companies, such as Ad-tech (Airtel Ads), Digital Entertainment (Wynk Music and Airtel XStream), and Digital Marketplace, will take part in this endeavour (Airtel Thanks App).
“We’re excited to have Lemnisk join our digital innovation engine as part of the Airtel Start Up accelerator programme. We think this partnership has a lot of potential, and together with Lemnisk, we want to make the largest CDP platform in the world. Lemnisk’s real-time marketing automation engine works well for us because over 350 million customers interact with brands every day in different ways. “The CEO of Airtel Digital, Adarsh Nair, said this.
“Rinku Ghosh, Praveen DS, and I are very excited to work with Airtel as a strategic partner to unlock immense value from customer data while keeping privacy and consent frameworks at the centre. What Airtel wants to do is so different from anything else in the world that it gives us hope. Airtel’s goal is the same as ours: to offer super-large businesses a single, easy-to-use platform that both organises and makes use of high-volume, high-velocity data. We’re looking forward to working together to do great things “said Subra Krishnan, Co-founder & CEO, Lemnisk.
The big telecom company Bharti Airtel had a quarterly profit that was lower than expected. This is a problem for the company as it rolls out 5G services across India. For the quarter ending on September 30, 2022, Airtel had a merged net profit of 2,145 crore. This is 89% more than the 1,134 crore made in the same quarter of the previous year.