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

Synopsis

Bajaj Financial Securities has acquired a stake in customer data platform Lemnisk through a secondary transaction, offering partial exits to early investors like growX Ventures. The deal highlights the growing demand for real-time customer data platforms and AI-driven personalization among Indian enterprises. Investors maintain their stakes, underscoring continued confidence in Lemnisk's long-term potential.

Bajaj Financial Securities has bought a stake in customer data platform Lemnisk through a secondary transaction for an undisclosed sum, providing partial exits to some of the company’s early investors including growX Ventures.

Lemnisk said the investors continue to hold stakes in the company.

“growX backed Lemnisk when the enterprise CDP space was still at a nascent stage. Their early belief, thoughtful guidance, and continued support have been invaluable to our journey,” said Subra Krishnan, co-founder and CEO of Lemnisk.

Secondary share sales allow existing shareholders to transfer ownership to new investors without new capital entering the company. The deal comes amid rising demand for real-time customer data platforms and AI-based personalisation tools among Indian enterprises.

Founded by Praveen DS, Rinku Ghosh, and Subra Krishnan, the company develops a composable customer data platform used by financial institutions, insurers, and other regulated entities to unify customer data and deliver personalized engagement. Its platform can be used on-premise or in private and public cloud environments.

Lemnisk has previously raised funding from Bharti Airtel, growX Ventures and other investors, and has offices in Dubai, Singapore and Boston. Its clients include companies in banking, insurance and financial services.

“Lemnisk has built enterprise infrastructure at a time when secure customer data platforms are becoming foundational to AI adoption. This transaction validates real value creation,” said Sheetal Bahl, Founding Partner at growX Ventures. “We remain invested in Lemnisk and continue to believe in its long-term potential.”

...moreless

...moreless