Auxano Scores 7x Return in Wiom Exit, Bolstering India's Tech Ecosystem
Auxano, an early-stage investment firm based in Gurugram, has announced a significant exit from its portfolio company Wiom. The exit, made through Auxano's pre-fund Special Purpose Vehicle (SPV), marks the firm's second full exit among a total of four across its investment vehicles. Wiom, an internet infrastructure platform, focuses on providing affordable broadband access to India's underserved population.
Auxano initially invested in Wiom through a Special Purpose Vehicle (SPV) in 2017, demonstrating its early confidence in the company's mission. The firm followed up with a subsequent round of investment in 2021, further cementing its commitment to Wiom's growth. Auxano's investment strategy focuses on disruptive startups across sectors such as fintech, healthtech, sustainability, Industry 4.0, and consumer internet, making Wiom a strategic fit.
During the investment period, Auxano played an active role in supporting Wiom operationally and strategically. This hands-on approach is a testament to Auxano's 'Founder First' philosophy, praised by Satyam Darmora, Co-founder of Wiom, who described Auxano as 'true partners'. Auxano's operational support, coupled with Wiom's asset-light, technology-led platform, contributed to Wiom becoming the largest licensed Public Data Office Aggregator (PDOA) in India.
The exit from Wiom delivered a 7x return for Auxano, founded by David Baker in 2016. This successful exit underscores Auxano's ability to identify and nurture promising startups, contributing to India's growing tech ecosystem. Wiom's focus on affordable broadband access continues to serve India's underserved population, bridging the digital divide one connection at a time.
