[Funding alert] Immensitas raises Rs 6.30 Cr led by Artha Venture Fund
Immensitas Private Limited has raised Rs 6.30 crore in a Pre-Series A round led by Artha Venture Fund (AVF), with participation from LogX Ventures.
The capital raised by Immensitas will be utilised for its flagship product – Lemnisk, a enterprise customer data and marketing automation platform, and for R&D, marketing, and sales. The technology platform can absorb customer data points from multiple channels to provide effective marketing tools.
Image source: Pixabay
According to a statement, Lemnisk has registered 250 percent growth since October 2020 and it processes over 475 million customer profiles, which it claims allows for 30 percent rise in digital revenues.
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 personalisation that they get from their ecommerce 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.”
The customers of Lemnisk include 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 Bengaluru, while it is also looking at getting into the US market.
Anirudh A Damani, Managing Partner, Artha Venture Fund, said,
“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 personalised multi-channel experiences in real-time.”
The investment into Immensitas is Artha Venture’s 11th such funding from its recently closed Rs 225 crore micro VC fund. The startups in the portfolio of this venture fund include Agnikul Cosmos, LenDenClub, HobSpace, PiggyRide, Daalchini, Kabbadi Adda, etc.