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

EntrackrEntrackr · 3m ago
The Wealth Company invests Rs 460 Cr in Ahmedabad-based Amnex
Medial

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.

InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation

EntrackrEntrackr · 2m ago
InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation
Medial

InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation InCred Money, the wealth and asset management arm of InCred Group, has raised Rs 250 crore ($30M) from investors including Ranjan Pai, Ram Nayak, Mankind Family Office, MMG Family Office, Ravi Pillai Family Office, and Raj Vattikutti Foundation. According to Entrackr sources, the fresh capital values InCred Money at around Rs 1,650 crore (roughly $200 million). Founded by Bhupinder Singh, InCred Group runs three key businesses: InCred Finance (a retail and MSME-focused NBFC), InCred Capital (wealth and asset management, M&A advisory, capital markets, and broking), and InCred Money. The group positions itself as a tech-driven financial services firm leveraging data science and proprietary risk models. InCred Money offers investment options across unlisted shares, fixed deposits, gold, silver, and more. According to the company’s website, the platform is used by over 1.5 lakh investors. The fresh fundraising comes as InCred Holdings gears up for a public market debut. The parent is preparing for an IPO with a total issue size pegged at $460–560 million, including a Rs 1,500 crore fresh issue and a Rs 300 crore pre-IPO placement. On the financial front, InCred Finance, the group’s lending arm, recorded a 47% year-on-year jump in revenue to Rs 1,872 crore in FY25, while profits rose 18% to Rs 374 crore. InCred Capital had earlier secured $50 million from family offices to expand its wealth and capital markets operations. With this funding, InCred Money becomes part of the growing wave of wealth management startups getting strong investor interest, as more Indians turn to digital platforms to manage their money.

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