Bajaj Financial Securities is buying a stake in Lemnisk as early investors partially pull out

Bajaj Financial Securities has bought a stake in customer data platform Lemnisk for an undisclosed amount in a secondary transaction, giving a partial exit to some of the company’s early investors, including growX Ventures.Lemnisk said the investors still have stakes in the company.

“growX supported Lemnisk when the enterprise CDP space was in its infancy. Their early belief, thoughtful guidance and ongoing 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 injecting new capital into the company. The deal comes amid rising demand among Indian companies for real-time customer data platforms and AI-based personalization tools.

Founded by Praveen DS, Rinku Ghosh and Subra Krishnan, the company is developing a composable customer data platform used by financial institutions, insurers and other regulated entities to unify customer data and deliver personalized engagement. The 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 customers include companies in banking, insurance and financial services. “Lemnisk has built an enterprise infrastructure at a time when secure customer data platforms are the foundation for AI adoption. This transaction validates true value creation,” said Sheetal Bahl, Founding Partner at growX Ventures. “We continue to invest in Lemnisk and believe in its long-term potential.”