Auxano Capital, an early-stage investment firm, has announced a successful secondary exit from its portfolio company Wiom, an internet infrastructure platform.
Last month, Wiom raised $40 million in a new funding round led by Bertelsmann India Investments and Accel.
The exit delivered an impressive 7x return, underscoring Auxano’s strategic acumen in backing category-creating businesses. The exit, executed via a secondary sale, marks Auxano’s second full exit among a total of four to date (two full and two partial) across its various investment vehicles.
Notably, this exit was made through Auxano’s pre-fund Special Purpose Vehicle (SPV), which was established prior to the launch of its first official fund in 2019.
Auxano had initially invested in Wiom through a Special Purpose Vehicle (SPV) in 2017, followed by a subsequent round in 2021.
Founded in 2015 as i2e1 and rebranded to Wiom in 2021, the company operates an asset-light, technology-led platform that integrates with India’s existing internet infrastructure ecosystem. Leveraging the Government of India’s PM-WANI (Prime Minister Wi-Fi Access Network Interface) framework, Wiom functions as the country’s largest licensed Public Data Office Aggregator (PDOA). The company partners with local internet operators to extend broadband access to communities where traditional connectivity models are often economically unviable.
Brijesh Damodaran, Co-founder and Partner, Auxano, said, “Touching the lives of 500 million people & being committed to the vision & mission is important. Being one of our earliest investments, we are grateful to our LP’s, who had patience in this journey & the resilience & adaptability powers of the founding team. Phoenix- it is. Identifying emerging megatrends/disruption & investing in category creators transforming to market leaders – Wiom it is.”
Satyam Darmora, Co-founder of Wiom, said, “Working with Auxano has been one of the best decisions for Wiom. They truly embody a ‘Founder First’ philosophy, standing steadfast through highs and lows without a hint of doubt. In tricky moments, they never imposed but always asked, ‘What would you like to do? ‘- and then backed me without hesitation. Their unwavering conviction and genuinely good nature make them more than just investors – they’re true partners. If you’re an early-stage founder, trust me: take their money blindly. You won’t regret it.”
Auxano is a venture capital firm founded by financial industry veterans in 2016, focused on funding high-potential startups across India. The firm invests across sectors such as Industry 4.0, FinTech, Sustainability, Distribution Enablement, and Enterprise Solutions, with a portfolio of over 35 companies.
