The Wealth Company Asset Management, a Pantomath Group company, has invested ₹460 crore (about $52 million) into Ahmedabad-based Amnex Infotechnologies through its Bharat Value Fund (BVF).
This marks the successful closure of Amnex’s first growth capital funding round.
Founded in 2008 by Aditya Shah and Tapan Gosaliya, Amnex offers complete technology solutions—from design and development to integration—leveraging hardware, software, data analytics, and Industry 4.0 tools (IoT, GIS, AI/ML, and Blockchain) for large-scale clients.
The company has built more than 18 proprietary technology platforms to serve multiple industries, including traffic, mobility, utilities, mining, logistics, smart cities, and agriculture. These solutions are designed to enhance transparency, accessibility, and impact at scale.
Its diverse portfolio blends Digital Public Infrastructure (DPI)- aligned open platforms with proprietary solutions for service delivery, advanced analytics and operational optimisation.
Over the last three years, Amnex has achieved a 75% CAGR. Operating on an asset-light model with disciplined scaling, the Company has consistently delivered ROCE above 40%.
Madhu Lunawat, Founder and Managing Director, Wealth Company Asset Management, said, “India’s digital infrastructure investment surged to INR 1.19 lakh crore in 2024, clocking ~10% CAGR on the back of transformative national initiatives such as Digital India, India Stack and the National AI Mission. As technology adoption accelerates across every sector, powerful economic tailwinds are taking shape, fuelled by platform-led transformations, intelligence-driven service delivery and universal last-mile access. In this fast-expanding white space, Amnex stands out with a proven track record, deep domain mastery and scalable technology capabilities, poised to unlock significant value and shape the next chapter of India’s digital growth story.”
Aditya Shah, Founder and Managing Director, Amnex InfoTechnologies, said, “We stand at the threshold of a new era where artificial intelligence, contextual data, and connected infrastructure are not just tools — they are becoming the fabric of how people live, connect, and thrive. At Amnex, our mission is to design systems that anticipate human needs, dissolve barriers, and unlock the true potential of digital infrastructure. With growth capital, deep expertise, and the courage to innovate at scale, we are ready to shape the operating system of tomorrow’s societies — more inclusive, more resilient, and profoundly human.”
