Amity, a Thailand-founded AI startup, has successfully raised $100 million in a Series D funding round led by Singapore’s EDBI. This capital influx is aimed at accelerating the company’s expansion plans ahead of a projected IPO. Other notable participants in this funding round include Asia Partners, SMDV, and CMLIM Capital, bringing Amity’s total funding to approximately $160 million.
The recent funding will primarily be allocated to enhance Amity’s AI capabilities and to bolster its AI Research & Application Center (ARAC). The company aims to facilitate growth across Southeast Asia and Europe, which includes potential acquisitions and strategies for market entry. With its sights set on Singapore, Amity plans to expand its ARAC operations, establishing the city-state as a central hub for AI research, product development, and deployment aimed at global enterprise clients.
Founded by Korawad Chearavanont, Amity specializes in developing enterprise software and AI solutions, focusing specifically on “vertical AI” models tailored to various industries, including retail and telecommunications. The company is also venturing into “agentic AI” systems designed to automate business processes, furthering its commitment to innovation in enterprise solutions.
“We believe in the potential for vertical AI models tailored to specific industries, delivering tangible, measurable ROI for customers,” Chearavanont stated. He emphasized that the latest investment underlines Amity’s potential as a Thai tech company capable of competing on a global scale.
Amity reported that its annualized revenue exceeded $100 million in 2025, representing more than a tenfold growth since 2022, with over 75% of its EBITDA generated from European operations. Chief Executive Keng Teik Koay noted that this latest funding round signifies a pivotal transition from a startup to a growth-stage company, with funds earmarked for market expansion, acquisitions, and talent acquisition.
The company has set ambitious targets, aiming for $200 million in annualized revenue by 2026 while preparing for a public listing in 2027. Previously, Amity raised a combined $60 million in a Series C funding round in 2024 and secured $5.7 million in a Series A round back in 2015. Its Series B funding in 2018 amounted to approximately $19 million, primarily led by Sinar Mas-backed SMDV.
EDBI, the investment arm of SG Growth Capital, expressed confidence in Amity’s trajectory, emphasizing its role in establishing and expanding the AI Research & Application Center in Singapore as the company embarks on its next growth phase. Senior Partner Yeung Chia Li highlighted that Amity’s expansion in Singapore, which includes AI research, product development, and go-to-market capabilities, is expected to enhance its ability to cater to global enterprise demand.
Amity’s recent fundraising comes amid a significant downturn in startup funding across Southeast Asia, which saw a sharp decline in February 2026. This downturn reversed the previous month’s surge driven primarily by a substantial multibillion-dollar investment in a data center. According to DealStreetAsia, startups in the region raised approximately $128.7 million across 27 equity deals in February, marking a modest increase from January’s 25 deals but plummeting 94.1% from the $2.18 billion raised in January.
As Amity seeks to position itself as a formidable player in the global AI landscape, the successful completion of this funding round underscores the growing interest in AI solutions tailored for specific industries. With its strategic initiatives and focus on technological innovation, Amity is poised to leverage this momentum as it charts its course towards a future public listing, aiming to solidify its standing within the competitive tech ecosystem.
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