Wealth Company Invests ₹460 Crore in Amnex to Fuel India’s Digital Infrastructure Future

Amnex Secures First Growth Capital to Scale AI and IoT-Based Infrastructure Solutions

Ahmedabad-based Amnex, a pioneer in digital infrastructure technologies, has secured its first growth capital round, with a ₹460 crore investment from The Wealth Company Asset Management. The strategic funding aims to accelerate the company’s expansion across key infrastructure sectors, leveraging deep-tech platforms to transform mission-critical industries in India.

Powering Tomorrow’s Smart Cities and Critical Sectors

Founded in 2008 by Aditya Shah and Tapan Gosaliya, Amnex builds next-generation platforms integrating Artificial Intelligence (AI), Internet of Things (IoT), Geographic Information Systems (GIS), and Blockchain. Their solutions are deployed across sectors such as:

• Traffic management
• Smart utilities
• Mining and logistics
• Agriculture
• Urban infrastructure and smart cities

The company has developed over 18 proprietary platforms combining open digital infrastructure with in-house innovation to drive scalable and impactful transformation.

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

Strong Performance and Scalable Business Model

Operating on an asset-light model, Amnex has delivered remarkable growth:

• 75% CAGR over the last three years
• 40%+ Return on Capital Employed (ROCE)
• A robust order book with widespread sector penetration

These metrics position Amnex as a key enabler in India’s digital infrastructure roadmap, aligned with national programs such as Digital India, India Stack, and the National AI Mission.

A Strategic Bet in India’s ₹1.19 Lakh Crore Digital Push

Commenting on the investment, Madhu Lunawat, Founder and Managing Director of Wealth Company Asset Management, said:

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“India’s digital infrastructure investment reached ₹1.19 lakh crore in 2024, and Amnex’s proven capabilities make it a strong bet in this expanding market.”

The investment was made via BVF, a Category II Alternative Investment Fund (AIF) managed by Wealth Company. The fund has been actively backing India’s growth story, recently investing in Haldiram Bhujiawala and Prisma Global, among others, further diversifying its high-growth portfolio.