Ahmedabad, August 2025 – In a landmark first growth capital injection, Wealth Company Asset Management -the AM arm of Pantomath Group has invested ₹460 crore (approx. $52 million) into Amnex Infotechnologies through its Bharat Value Fund (BVF).
Why It Matters
Amnex, founded in 2008 by Aditya Shah and Tapan Gosaliya, specializes in AI, IoT, GIS, and blockchain-driven solutions tailored for mission-critical applications ranging from smart cities and mobility to utilities, mining, logistics, and agriculture. The company operates asset-light, boasts a 75% compound annual growth rate over the last three years, and maintains ROCE above 40% a powerful signal of operational strength.
Strategic Implications
This investment deepens betting on India’s digital infrastructure now estimated at ₹1.19 lakh crore in 2024, thanks to initiatives like Digital India, India Stack, and the National AI Mission. BVF’s vote of confidence in Amnex underscores a shift toward scaling domestic tech platforms that can deliver large-scale public-good impact.
What Founders Should Watch
- Sector Leadership in Infrastructure Tech: Amnex’s diverse real-world footprint across sectors sets a high bar for Indian infrastructure startups.
- Investor Appetite for Impact-driven Ventures: We’re seeing more institutional capital flow into companies solving hard, systemic challenges rather than consumer playbooks.
- Growth Capital as Leverage, Not Just Fuel: This isn’t just a cash infusion—it’s a strategic partnership that signals future scale and credibility.
Final Take
For founders in deep-tech, public infrastructure, or urban tech, this move by BVF is a clear reminder: solving structural problems with scalable tech isn’t just noble it attracts big capital too.
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