Bajaj Financial Securities has acquired stakes in Bengaluru-based customer data platform Lemnisk through a secondary transaction, providing partial exits to some of the company’s early backers, including growX Ventures.
Lemnisk said the existing investors continue to hold positions in the company, reflecting their long-term confidence in its growth trajectory and leadership potential in the enterprise data infrastructure space.
While the financial details of the deal were not disclosed, the transaction highlights growing interest from large financial institutions in real-time customer data infrastructure and AI-led personalisation technologies. Unlike a primary investment, a secondary sale involves existing shareholders selling their stakes to a new investor without the company issuing fresh shares.
Founded by Praveen DS, Rinku Ghosh, and Subra Krishnan, Lemnisk operates a composable customer data platform designed for financial institutions, insurers, and other regulated enterprises. The platform enables clients to unify siloed data, ensure compliance, and deliver AI-driven personalised engagement across digital channels in real time. Its deployment options include on-premise, private cloud, and public cloud models, catering to the compliance and security needs of 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 and CEO of Lemnisk.
The acquisition comes amid a broader digital transformation in India’s financial sector, where enterprises are investing heavily in secure and scalable customer data platforms to enhance AI-driven engagement. Bajaj Financial Securities is a subsidiary 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. Over the past few years, the company has expanded its global presence with offices in Dubai, Singapore, and Boston, serving enterprise clients across the banking, insurance, and financial services sectors.
“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 at growX Ventures.
