Bajaj Financial Securities buys stake in Lemnisk as early investors partly exit

Bajaj Monetary Securities has purchased a stake in buyer knowledge platform Lemnisk by a secondary transaction for an undisclosed sum, offering partial exits to a number of the firm’s early buyers together with growX Ventures.

Lemnisk mentioned the buyers proceed to carry stakes within the firm.

“growX backed Lemnisk when the enterprise CDP house was nonetheless at a nascent stage. Their early perception, considerate steerage, and continued assist have been invaluable to our journey,” mentioned Subra Krishnan, co-founder and CEO of Lemnisk.

Secondary share gross sales enable present shareholders to switch possession to new buyers with out new capital getting into the corporate. The deal comes amid rising demand for real-time buyer knowledge platforms and AI-based personalisation instruments amongst Indian enterprises.

Based by Praveen DS, Rinku Ghosh, and Subra Krishnan, the corporate develops a composable buyer knowledge platform utilized by monetary establishments, insurers, and different regulated entities to unify buyer knowledge and ship personalised engagement. Its platform can be utilized on-premise or in personal and public cloud environments.

Lemnisk has beforehand raised funding from Bharti Airtel, growX Ventures and different buyers, and has workplaces in Dubai, Singapore and Boston. Its shoppers embrace firms in banking, insurance coverage and monetary companies.“Lemnisk has constructed enterprise infrastructure at a time when safe buyer knowledge platforms have gotten foundational to AI adoption. This transaction validates actual worth creation,” mentioned Sheetal Bahl, Founding Associate at growX Ventures. “We stay invested in Lemnisk and proceed to consider in its long-term potential.”