Bengaluru: Bajaj Financial Securities has acquired stakes in Bengaluru-based customer data platform Lemnisk through a secondary transaction, giving partial exits to early backers including growX Ventures.
Lemnisk said the investors continue to remain invested in the company, reaffirming their long-term conviction in Lemnisk’s growth and category-leadership potential.
The deal, whose value was not disclosed, comes as Indian enterprises ramp up spending on real-time customer data infrastructure and AI-driven personalisation. A secondary sale allows existing investors to offload shares to a new investor, rather than fresh capital entering the company.
Lemnisk, founded by Praveen DS, Rinku Ghosh and Subra Krishnan, operates a composable customer data platform that helps financial institutions, insurers and other regulated enterprises unify siloed data, ensure compliance, and power AI-led personalised engagement across channels in real time. Its deployment models span on-premise, private cloud and public cloud environments — a key competitive differentiator for regulated industries.
“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. We’re grateful for their partnership as we continue scaling globally,” said Subra Krishnan, Co-founder & CEO, Lemnisk.
The transaction underscores rising interest from large financial services institutions in enterprise data infrastructure platforms amid a rapid shift towards digital-first, AI-enabled customer engagement in India. Bajaj Financial Securities is part of Bajaj Finserv, one of India’s largest diversified financial services groups.
Lemnisk has previously raised institutional capital from Bharti Airtel, growX Ventures, and other strategic investors. The company has expanded its global footprint with offices in Dubai, Singapore and Boston, and serves enterprise clients across banking, insurance and financial services.
“Lemnisk has built category-defining enterprise infrastructure at a time when secure customer data platforms are becoming foundational to AI adoption. This transaction validates real value creation — when Bajaj Finserv steps in to acquire secondary stakes, it proves our markups are not just paper gains. This is our second exit within four years of fund closing, a rarity in the Indian venture ecosystem. Importantly, we remain invested in Lemnisk and continue to believe in its long-term potential,” said Sheetal Bahl, Founding Partner, growX Ventures.
