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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.

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JM Financial Private Equity invests Rs 45 Cr in Clear Premium Water

EntrackrEntrackr · 1y ago
JM Financial Private Equity invests Rs 45 Cr in Clear Premium Water
Medial

Bottled water brand Clear Premium Water has raised rs 45 crore ($5.4 million) in a new round from JM Financial Private Equity. Proceeds from the investment will support brand-building initiatives and enhance the existing capacities and distribution network of the company, Clear Premium Water said in a press release. Founded by Nayan Shah, the company is one of the notable players in the HoReCa (hotels, restaurants & cafés) segment and is gaining a footprint in the retail market in India. With a pan-India footprint, the company is strategically expanding its distribution across the nation. In December, the Ahmedabad-based company acquired 51% majority stake in Pune-based Kelzai Secrets Pvt Ltd. Kelzai offers volcanic water in PET and glass bottles. Last year, the firm also announced the launch of its natural mineral water brand NubyClear (NU) in India. This is the fifth investment from JM Financial Private Equity’s Fund III. Previously, it backed PharmEasy, BigHaat Agro and Silverpush, among others.

OYO’s Ritesh Agarwal invests in Culture Circle at over Rs 100 Cr valuation

EntrackrEntrackr · 4m ago
OYO’s Ritesh Agarwal invests in Culture Circle at over Rs 100 Cr valuation
Medial

OYO’s Ritesh Agarwal invests in Culture Circle at over Rs 100 Cr valuation Culture Circle, a fashion commerce platform focused on luxury and streetwear, has raised a strategic round from Ritesh Agarwal, founder and chief executive of OYO. The funding was done at a valuation of more than Rs 100 crore. The startup had earlier secured Rs 3 crore on Shark Tank India from Agarwal and Kunal Bahl, declining a larger Rs 8 crore offer. Culture Circle claims to have crossed Rs 400 crore in overall valuation following its recent growth. The platform reports 1 million monthly users and over 4,000 verified sellers. It has recorded 4 times growth in recent quarters. The company was started by Devansh Jain Nawal and Ackshay Jain. Nawal is an IIM Ahmedabad alumnus and former Goldman Sachs employee. Jain has earlier worked with Google and leads JIIF Gurugram. The founders said the capital will be used to grow SourceX, the firm’s AI-led authentication system, and to expand into new product categories and global markets. It also plans to open new offline stores in Gurugram and Mumbai. Culture Circle operates flagship stores in Delhi and Hyderabad and runs a resale marketplace for branded sneakers and luxury fashion. The company is planning its global launch later this year.

Wealthy raises Rs 130 Cr led by Bertelsmann India Investments

EntrackrEntrackr · 12d ago
Wealthy raises Rs 130 Cr led by Bertelsmann India Investments
Medial

Wealth-management platform Wealthy has raised Rs 130 crore ($14.5 million) in a new funding round led by Bertelsmann India Investments. Its existing investors Shepherd’s Hill Group and Alpha Wave Global also participated. The proceeds will be used to expand Wealthy’s advisor network, improve its product stack, and increase penetration in new markets. It is also expected to strengthen its technology infrastructure and compliance systems as product categories scale. Founded in 2015, Wealthy operates a digital marketplace for financial products and a distribution platform for advisors. The company enables independent financial advisors to sell mutual funds, insurance, fixed deposits, bonds, and other wealth products through its technology stack. According to the company, its AUM has increased from Rs 200 crore to Rs 5,000 crore over the past three years, reflecting strong business expansion. Wealthy now operates 20 offices across India, with a significant presence in major cities such as Bengaluru, Mumbai, Hyderabad, Ahmedabad, Surat, Jaipur, Gurugram, Delhi, Faridabad, Ghaziabad, Lucknow, Kanpur, and Kolkata. The platform claims to process over Rs 300 crore in monthly transactions and works with more than 6,000 mutual fund distributors serving over 100,000 clients. As per TheKredible, Wealthy’s revenue from operations grew to Rs 25 crore in FY25 from Rs 14.5 crore in FY24. The AWI-backed company recorded a net loss of Rs 35 crore in the last fiscal year, compared to Rs 24 crore in FY24.

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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