Airtel acquires strategic stake in blockchain company Aqilliz

Airtel acquires strategic stake in blockchain company Aqilliz

The deal is subject to statutory approvals.

Airtel acquires Aqilliz

Mumbai: Bharti Airtel on Thursday announced that it has acquired a strategic stake in blockchain-as-a-service company Aqilliz under the Airtel Startup Accelerator Programme. The deal is subject to applicable statutory approvals.

Singapore-based Aqilliz has developed a patented hybrid blockchain platform Atom, that integrates differential privacy and federated learning on a distributed digital ledger. This allows brands to create secure and consent-based solutions to engage with customers in a rapidly evolving digital economy that’s becoming increasingly decentralised.

Airtel aims to deploy Aqilliz’s advanced blockchain technologies at scale across its fast-growing ad-tech (Airtel Ads), digital entertainment (Wynk Music and Airtel Xstream) and digital marketplace (Airtel Thanks App) offerings.

“We, at Airtel, are deeply researching new technologies that drive the future of a digitally connected India,” said Airtel Digital CEO Adarsh Nair. “This relentless focus on innovation is also enabling us to unlock new growth engines within Airtel. Blockchain technology is maturing and we see its application across areas such as adtech, creator economy, and loyalty programs. We are thrilled to have Aqilliz join our Startup Accelerator Program and be part of Airtel’s digital innovation factory.”

“We are extremely excited to be a part of Airtel’s digital innovation play and bring this first of its kind blockchain technology to India,” said Aqilliz founding CEO Gowthaman Ragothaman. “Legacy customer engagement, ad tech and marketing technologies are built for centralised databases. The future of the digital economy is already pivoting to managing value exchanges between brands, platforms and the consumer. Aqilliz’s patented technology will enable Airtel to capture and carry this value exchange in the form of consent and provenance across the digital supply chain. We look forward to working closely with the team at Airtel.”

Airtel Startup Accelerator Programme invests in early-stage start-ups working on technologies that have adjacencies to Airtel’s business offerings.