Auxano Capital exits Wiom with 7x return via secondary sale

Auxano Capital has exited its investment in Wiom, a public internet infrastructure startup, delivering a 7x return through a secondary transaction. 

The exit was made via Auxano’s pre-fund Special Purpose Vehicle (SPV), marking its second full exit. 

Last month, the Delhi-based internet services company, raised $40 million in a new funding round led by Bertelsmann India Investments and Accel. Previously, it had raised $17 million in a Series A round led by RTP Global in July 2023.

Wiom, originally founded in 2015 as i2e1 and rebranded in 2021, has grown into India’s largest licensed Public Data Office Aggregator (PDOA) under the Government’s PM-WANI framework. 

It operates an asset-light model by aggregating surplus bandwidth from local cable operators and reselling it through its proprietary router software and centralized backend. This allows the company to offer affordable internet access in areas where traditional broadband rollout is cost-prohibitive.

Auxano had first backed Wiom in 2017 and followed up with another round in 2021. It actively supported the company through strategic and operational pivots. The firm focuses on investing in early-stage disruptive ventures across fintech, healthtech, sustainability, and Industry 4.0.