The Wealth Company Asset Management invests Rs 460 crore in Ahmedabad-based Amnex

The Wealth Company Asset Management, the investment arm of the Pantomath Group, has invested Rs 460 crore (about $52 million) in Ahmedabad-based Amnex Infotechnologies through its Bharat Value Fund (BVF).

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The infusion marks Amnex’s first growth capital round and is intended to expand its portfolio of technology solutions across critical infrastructure sectors.

Founded in 2008 by Aditya Shah and Tapan Gosaliya, Amnex builds artificial intelligence, Internet of Things, Geographic Information Systems, and blockchain-driven solutions for mission-critical industries. Its platforms support traffic management, utilities, mining, logistics, agriculture, and smart cities. The company has developed more than 18 proprietary platforms that combine open digital infrastructure with in-house innovation to drive large-scale adoption.

"Our mission is to design systems that anticipate human needs, dissolve barriers and unlock the true potential of digital infrastructure. With growth capital and deep expertise, we are ready to shape tomorrow's societies to be more inclusive, more resilient and profoundly human," Shah said.

Amnex, which operates on an asset-light model, reported a 75% compound annual growth rate over the past three years and maintains a return on capital employed above 40%. It has positioned itself as a fast-growing player in India’s digital infrastructure push, with a strong order book and sector-wide penetration.

Madhu Lunawat, founder and managing director of Wealth Company, noted that India’s digital infrastructure investment reached Rs 1.19 lakh crore in 2024, supported by programs such as Digital India, India Stack, and the National AI Mission. “Amnex’s proven capabilities make it a strong bet in this expanding market,” she said.

BVF, a Category II Alternative Investment Fund managed by Wealth Company Asset Management, has been an active investor in India’s growth story. In the past six months, it has backed companies such as Haldiram Bhujiawala and Prisma Global, further diversifying its portfolio.