Thai Tech Company Amity Announces US$100 Million Series D, Marking Southeast Asia’s Largest GenAI Funding Round

Thai Tech Company Amity Announces US$100 Million Series D, Marking Southeast Asia’s Largest GenAI Funding Round

Bangkok — Amity, an AI technology company founded in Thailand, announced a Series D funding round of US$100 million, marking the largest GenAI-focused funding round in Southeast Asia to date. The round was led by EDBI, the investment arm of SG Growth Capital, alongside Asia Partners and SMDV, with participation from existing and new investors, including CMLIM Capital.

The funding will support the expansion of Amity’s AI capabilities, accelerate its growth across Southeast Asia and Europe, and strengthen its AI Research & Application Center (ARAC). As part of this, Amity will establish and expand its ARAC presence in Singapore alongside building regional go-to-market capabilities and pursuing strategic acquisitions in 2026. The company is targeting an initial public offering (IPO) in 2027.

Amity’s growth strategy is anchored on its “3Bs – Build, Buy, Bridge” approach: advancing AI capabilities through ARAC; expanding through targeted mergers and acquisitions across Southeast Asia and Europe; and integrating these capabilities across the portfolio to accelerate the commercialization of enterprise AI solutions and strengthen its position as a regional AI leader with a growing global presence.  

Mr. Korawad Chearavanont, Amity's Executive Chairman & Founder, said: “Amity is a software and AI technology group founded in Thailand, with its AI Research & Application Center (ARAC) headquartered in Singapore and operations focused on Europe and Southeast Asia.  Last year, annualized revenue broke $100 million for the first time, expanding more than 10x since 2022. Critically, Amity’s business and growth is global in nature, with more than 75% of EBITDA in 2025 coming from Amity’s European business units.”

“We believe in the potential for vertical AI models tailored to specific industries — delivering tangible, measurable ROI for customers. In parallel, agentic AI will move beyond analysis and summarization to truly execute tasks and drive business processes,” he continued. “Against this backdrop, Amity announced a US$100 million Series D to accelerate vertical AI models and agentic AI development, reaffirming our potential as a Thai tech company ready to compete globally. In the next year, we will be focused on expanding and improving our AI research division, ARAC, as well as accelerating expansion in our two focus regions, Europe and Southeast Asia.”

Mr. Keng Teik Koay, Amity’s Group Chief Executive Officer, said: “This Series D marks an important step from tech startup to full Growth & Scale Stage and provides the funding needed for expansion into new markets — including Singapore with our cutting-edge ARAC capability — acquisitions and other growth initiatives to help Amity achieve its ambition  to become a global technology company for enterprise customers with Thai roots. We will allocate capital with discipline and transparency, prioritizing investments that deliver concrete positive impact, sustainable revenue and technological advantage, and attracting world-class talent — creating durable value for shareholders, customers, and employees.”

Mr. Touchapon Kraisingkorn, Chairman of Amity AI Research & Application Center (ARAC), Executive Director and Co-Founder of Amity, said: “A portion of the proceeds will be invested in ARAC to develop vertical AI that understands industry-specific contexts, with a primary focus on retail and telecommunications. We will also accelerate agentic AI — intelligent, autonomous agents that can execute end-to-end business processes — across our integrated ecosystem: Amity Accentix (Voice AI), Tollring (Communications Analytics), Amity Solutions (Agentic AI), EGG Digital (Retail Analytics and Marketing) and Amity-Nordstar (Unified Communications). This approach underscores Amity’s AI strength as an integrated ecosystem that connects proprietary technology to real-world application under a 'Research-to-Revenue' model, addressing the enterprise last-mile adoption challenge that often prevents AI projects from delivering sustainable outcomes.”

Mr. Yeung Chia Li, Senior Partner, EDBI, investment arm of SG Growth Capital, said: “We are pleased to partner with Amity as it establishes its AI Research & Application Center in Singapore and advances its next phase of growth. Amity’s expansion in Singapore, including AI research, product development, and ready go-to-market capabilities, will strengthen its ability to serve global enterprise demand and position the company to drive broader adoption of AI across industries. We look forward to supporting Amity as they grow their presence and capabilities in Singapore and contribute to the broader AI ecosystem.”

Mr. Vorapol Supanusonti, Co-Founder & Partner at Asia Partners, a Singapore-based tech-focused growth stage private equity firm, said: “We are excited to partner with Mr. Korawad and the Amity team as they scale a truly differentiated AI platform across Southeast Asia and Europe. Based on Amity's performance over the last several years, we see the strength of its business ecosystem and AI capabilities — especially in developing AI products with broad commercial applications across industries. Their ‘Build, Buy, Bridge’ strategy — combining organic R&D with disciplined M&A to transform acquired software businesses into AI-first platforms — is a compelling approach to capturing the significant enterprise AI opportunity across the region. We look forward to supporting Amity’s next phase of growth as it works toward becoming a leading AI company with Thai roots.”

According to SMDV, an Indonesia-based venture capital firm, Amity has built a strong platform combining enterprise software capabilities with a clear strategy around vertical AI and agentic AI. "The company is well positioned to scale its technology and ecosystem across Southeast Asia and Europe, and we look forward to supporting them as they execute their next phase of growth,” mentioned SMDV in its comment.

Mr. Korawad concluded: “With this round, Amity's total funding increases to US$160 million, up from the previously announced US$60 million in late 2024. Coupled with Group run rate revenue of over US$100 million, and a diverse global team based across four continents, we have the resources to execute our three strategic pillars effectively. Amity will continue to acquire software companies in Europe and Southeast Asia to strengthen our business and enable faster development and commercialization of vertical AI in global markets. We are confident Amity can become an AI champion for Thailand and the region — For 2026, we are aiming to break $200 Million in annualized revenue, and we are preparing for an IPO in 2027 — the start of an exciting new chapter for Amity.”

Evercore Asia (Singapore) Pte. Ltd. acted as the exclusive financial advisor to Amity on the Series D round.

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About Amity

Amity is a Thailand-founded AI and software group delivering SaaS solutions, primarily serving the retail and telecommunications industries. The company drives AI innovation through its AI Research & Application Center (ARAC), headquartered in Singapore, developing vertical AI models and integrating them across its portfolio of five core companies—Amity Solutions, Amity Accentix, Tollring, EGG Digital and Amity-Nordstar. Amity continues to expand globally, particularly in Europe and Southeast Asia, through strategic investments and acquisitions.

About EDBI

EDBI operates under SG Growth Capital, the investment platform of the Singapore Economic Development Board (EDB) and Enterprise Singapore. We invest in high-growth global technology companies and industry leaders looking to scale in Singapore and across Asia. Leveraging SG Growth Capital’s extensive networks and expertise, we collaborate with our portfolio companies to unlock growth opportunities, create pathways for advancement, and connect them with the resources needed for success. Through strategic investments and partnerships, we drive the development of innovative solutions, create good jobs, and contribute to Singapore’s long-term economic resilience.

Learn more: https://edbi.com/

About Asia Partners

Asia Partners is a growth equity firm focused on supporting the next generation of high-growth technology and technology-enabled companies that will transform the Southeast Asia economy. Its mission is to empower founders to build a new generation of tech and tech-enabled platforms by deploying capital that directly addresses the region’s ‘Series C/D Gap’, and applying deep operational expertise, drawing upon the team’s collective experience of growing eight multi-billion dollar companies, including three in Southeast Asia.

About SMDV

SMDV is a venture capital firm focusing in high-growth technology companies across Southeast Asia

and the broader digital economy.

About CMLIM Capital

CMLIM Capital is a Malaysian investment holding vehicle of the Chairman of LGB Group; a Malaysian group with interests in water treatment, toll roads, solid waste and management, wastewater and renewable energy concessions, construction and engineering, property development and investments and IT in Malaysia, Singapore, Hong Kong, China, Japan and the United Kingdom.