The Wealth Company invests Rs 460 Cr in Ahmedabad-based Amnex

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

This marks Amnex’s first growth capital round. The company aims to design connected systems that anticipate human needs and enable inclusive, resilient infrastructure. The fresh capital will help scale solutions across sectors.

Founded in 2008 by Aditya Shah and Tapan Gosaliya, Amnex builds AI, IoT, GIS, and blockchain-driven technology solutions for mission-critical sectors. Its offerings span traffic, mobility, utilities, mining, logistics, agriculture, and smart cities. 

The company has developed over 18 proprietary platforms that combine open digital infrastructure with in-house technology for large-scale impact.

Amnex claims to have grown rapidly, delivering a 75% CAGR over the past three years. It operates on an asset-light model with ROCE consistently above 40%. With a strong order book and deep penetration across industries, it has positioned itself as one of India’s fastest-growing players in digital infrastructure.

The Wealth Company’s founder and MD, Madhu Lunawat, said India’s digital infrastructure investment touched Rs 1.19 lakh crore in 2024, boosted by initiatives like Digital India, India Stack, and the National AI Mission. She added that Amnex’s proven capabilities make it a strong bet in this expanding market.

BVF has been an active investor, recently backing companies including Haldiram Bhujiawala and Prisma Global.