- The round also saw participation from LogX Ventures
- The funds have been earmarked for R&D, marketing and sales acceleration
- Immensitas’ product, Lemnisk, processes ~475 million customer profiles monthly and is proven to provide up to 30% lift in digital revenues at scale
INDIA, Mumbai, July 27, 2021: Immensitas Private Limited raised ₹6.30 crores in Pre-Series A round led by Artha Venture Fund (AVF), India’s first early-stage micro-VC fund. The round also saw participation from Ramakant Sharma’s LogX Ventures. The funds will be utilized by Immensitas’ offering – Lemnisk – a leading enterprise Customer Data and Marketing Automation Platform, based in Bangalore. This investment is AVF’s 11th from its recently closed ₹225 crores micro-VC fund.
Lemnisk is a customer data and marketing automation platform that stitches and activates myriad customer data points from different channels in real-time thereby enabling marketers to communicate with their users effectively. Currently, Lemnisk is the only platform that can consolidate and act on customer data signals especially if these inputs are coming from different channels. The company is set to disrupt the pace at which customer user journeys can be made more impactful and targeted using their machine learning-driven cross-tool journey orchestration platform. Lemnisk has witnessed a 250% growth since October 2020, and the platform processes ~475 million customer profiles monthly, providing up to a 30% lift in digital revenues.
The last decade has seen data privacy concerns come to the fore with governments across the world take it seriously through GDPR, CCPA and other policy frameworks. In this context, Lemnisk helps marketers stay future-ready by proactively taking charge of their customer data and build a trusted relationship with their customers.
Subra Krishnan, Co-Founder & CEO of Lemnisk, said, “Customers have come to expect every brand and service provider they engage with to offer the same level of personalization that they get from their e-commerce or OTT providers. Before COVID-19, there was already a growing demand for real-time personalization across every customer touchpoint. COVID-19 has only accelerated this trend further, as enterprises recognize they will quickly be left behind if they aren’t delivering experiences that exceed customer expectations.”
Anirudh A Damani, Managing Partner, Artha Venture Fund, said, “In a world where customers engage with brands across multiple channels for buying and inquiring, identifying the customer across channels is difficult due to customer data and privacy challenges.
We were impressed by the team at Lemnisk and how they have leveraged new-age technologies to help marketers take charge of their data. Moreover, the Lemnisk platform could bring together multiple high volumes, high-velocity data sources together, understand individual user interaction patterns and deliver highly scaled and personalized multi-channel experiences in real-time. Rinku, Praveen, and Subra form a perfect founding team with complementary skills. They have an ambitious and global vision and are in the right space at the right time. We are thrilled to have them join the AVF family!”
Lemnisk has an impressive list of customers including AIA Insurance, Emirates NBD Bank, Citibank, Abu Dhabi Commercial Bank, Bajaj Finserv, Acko Insurance, and Livspace among others. It has offices in Singapore, Dubai, and Bangalore and will use a part of these funds to open the US market.
About Artha Venture Fund
Artha Venture Fund (AVF) is India’s first early-stage micro-VC firm. Since its inception in late 2018, AVF has primarily funded and supported multiple startups that operate as enablers and entities focused on solving the challenges of Indian consumers and businesses. The current fund makes thematic investment allocations for B2B, B2C/D2C, and D2C enablers.
Led by a second-generation investor, Anirudh A Damani, the firm has a network of limited partners, co-investors, founders, and family offices that traverse the globe. AVF’s portfolio includes Agnikul, LenDenClub, HobSpace, PiggyRide, Daalchini, Kabbadi Adda, and more.
AVF is part of Artha Group with investments in 85+ startups across India, the US, and Israel like OYO Rooms, Purplle, Tala, Coutloot, Karza Technologies, Mobilewalla, Interstellar and more. For more information, please visit www.artha.vc