Ahmedabad-based Amnex receives Rs 460 Cr investment from The Wealth Company

The Pantomath Group’s asset management division, Wealth Company Asset Management, has invested Rs 460 crore, or roughly $52 million, in Ahmedabad-based Amnex Infotechnologies through its Bharat Value Fund (BVF).

This is the first round of growth capital for Amnex. Designing interconnected systems that anticipate human needs and facilitate inclusive, resilient infrastructure is the company’s goal. The new funding will aid in scaling solutions across industries.

Aditya Shah and Tapan Gosaliya founded Amnex in 2008, and it develops blockchain-driven, AI, IoT, and GIS technology solutions for industries that are vital to the mission. Its services cover mining, transportation, traffic, utilities, agriculture, logistics, and smart cities.

For widespread impact, the company has created more than 18 proprietary platforms that integrate in-house technology with open digital infrastructure.

With a 75% compound annual growth rate over the last three years, Amnex claims to have expanded quickly. It uses an asset-light business model and maintains a ROCE above 40%. It has established itself as one of India’s fastest-growing digital infrastructure companies thanks to its robust order book and extensive industry penetration.

Madhu Lunawat, the founder and MD of The Wealth Company, stated that, thanks to programs like Digital India, India Stack, and the National AI Mission, India’s investment in digital infrastructure reached Rs 1.19 lakh crore in 2024. Amnex is a good investment in this growing market because of its demonstrated capabilities, she continued.

As an active investor, BVF has recently supported businesses like Prisma Global and Haldiram Bhujiawala.