Ahmedabad, August 18, 2025 – In a significant boost to India’s digital infrastructure ambitions, Wealth Company Asset Management, the asset management arm of Pantomath Group, has invested ₹460 crore (about $52 million) in Ahmedabad-based Amnex Infotechnologies through its Bharat Value Fund (BVF).
This marks Amnex’s first growth capital round, opening a new chapter for the 17-year-old technology firm. Co-founded in 2008 by Aditya Shah and Tapan Gosaliya, Amnex has built a reputation for designing connected systems that blend AI, IoT, GIS, and blockchain to create scalable, resilient, and inclusive infrastructure solutions.
Over the years, the company has rolled out more than 18 proprietary platforms, offering mission-critical solutions in areas such as traffic, utilities, mobility, agriculture, mining, logistics, and smart cities. Operating on an asset-light model with ROCE consistently above 40%, Amnex claims a rapid 75% CAGR over the past three years.
Speaking about the investment, Madhu Lunawat, Founder and MD of Wealth Company, noted the strong tailwinds in India’s digital infrastructure sector, which saw investments soar to ₹1.19 lakh crore in 2024, driven by flagship initiatives like Digital India, India Stack, and the National AI Mission. “Amnex’s proven capabilities, deep industry penetration, and scalable platforms make it a compelling bet in this expanding market,” she said.
For Amnex, the fresh capital will be channeled towards scaling its platforms and strengthening impact across industries. “Our vision has always been to create technology that anticipates human needs and builds resilient infrastructure for the future,” said co-founder Aditya Shah.
The investment also reflects BVF’s active strategy, having recently backed consumer and technology-led companies including Haldiram Bhujiawala and Prisma Global.
With a strong order book and momentum in digital-first infrastructure, Amnex now looks well-positioned to join the league of India’s fastest-growing technology enablers for urban and industrial ecosystems.
-by Bhumika Rawat
