Auxano Capital, an early-stage enterprise capital agency, has secured a 7x return from its funding in web infrastructure platform startup Wiom. The exit was executed by way of a secondary transaction.
Auxano had first invested in Wiom in 2017 and added new funding by way of a subsequent spherical in 2021.
Based in 2015, Wiom operates an asset-light, technology-led platform that integrates with India’s present web infrastructure ecosystem. Leveraging the federal government of India’s PM-WANI (Prime Minister Wi-Fi Entry Community Interface) framework, Wiom features as a licensed Public Information Workplace Aggregator (PDOA). The corporate companions with native web operators to increase broadband entry to communities the place conventional connectivity fashions are sometimes economically unviable.
Wiom’s asset-light mannequin considerably reduces the price per connection, whereas making certain regulatory compliance and centralised registration by way of its proprietary backend platform and router software program.
In response to Auxano, that is the second full exit for the agency amongst a complete of 4 so far, which embody two full and two partial throughout its funding autos.
“Being certainly one of our earliest investments, we’re grateful to our LP’s, who had persistence on this journey & the resilience & adaptability powers of the founding group,” stated Brijesh Damodaran, Co-founder and Companion, Auxano.
Auxano stated it performed an lively function in supporting Wiom, each operationally and strategically.
Auxano invests throughout sectors equivalent to Trade 4.0, FinTech, Sustainability, Distribution Enablement, and Enterprise Options, with a portfolio of over 35 corporations.
Edited by Jyoti Narayan
