Key Takeaways
- • Krungsri Finnovate, the corporate venture capital arm of Bank of Ayudhya, made a strategic investment in Thai enterprise AI group Amity as part of its over $100 million Series D extension; the investment size was not disclosed.
- • The investment was made through Finnoventure Private Equity Trust I, a trust managed by Krungsri Finnovate.
- • Amity reported surpassing $100 million in annualised revenue in 2025, more than tenfold its 2022 level, and targets $200 million by end-2026.
- • Amity plans a public listing in 2027 and a potential IPO, with the new capital intended to strengthen its financial position.
- • Krungsri and Amity are exploring commercial collaboration and preliminary discussions on a data partnership with Amity subsidiary EGG Digital.
Summary
Thailand-based enterprise AI group Amity has secured a strategic investment from Krungsri Finnovate, the corporate venture capital arm of Bank of Ayudhya, as part of its over $100 million Series D extension round. The investment was made through Finnoventure Private Equity Trust I, a trust managed by Krungsri Finnovate. The companies did not disclose the size of the investment.
The deal adds Krungsri Finnovate to a Series D round previously led by EDBI, the investment arm of SG Growth Capital, the investment platform of Enterprise Singapore and the Singapore Economic Development Board, which was announced in March this year. Asia Partners and SMDV co-led the round, which also drew participation from existing and new investors, including CMLIM Capital. Amity said the investment would strengthen its financial position as it pursues expansion plans, including a potential initial public offering.
Amity acquires, operates and builds vertical AI platforms and models, with a focus on retail and customer communications. According to the company, its ecosystem reaches more than 10 million monthly active users across over 20,000 organisations worldwide, and it is expanding across Southeast Asia and Europe through acquisitions and organic growth. Amity said it surpassed $100 million in annualised revenue in 2025, more than tenfold its 2022 level, and is targeting $200 million in annualised revenue by the end of 2026, with a public listing planned for 2027. The investment follows Amity's establishment in June 2026 of its Southeast Asian regional headquarters and AI Research & Application Center (ARAC) in Singapore.
Korawad Chearavanont, executive chairman and founder of Amity, said the investment reflected confidence in the company's Series D extension and its longer-term plans. Palida Artispong, acting managing director and head of portfolio growth at Krungsri Finnovate, said Amity's appeal lay in its ability to apply AI to business operations, noting that Amity serves more than 100 business partners across retail, food and beverage, fashion and hospitality, as well as tens of thousands of SMEs. Through the vehicle, Krungsri Finnovate aims to support Amity's technological and commercial expansion in Thailand and overseas.
Beyond funding, the two groups are exploring commercial opportunities that could combine Amity's AI capabilities with Krungsri's network of financial and business partners. They are also beginning preliminary discussions on a data partnership with EGG Digital, an Amity subsidiary specialising in AI-powered data analytics, media services and marketing solutions, aimed at combining customer data and machine learning to develop personalised products for consumers and businesses.
The deal adds Krungsri Finnovate to a Series D round previously led by EDBI, the investment arm of SG Growth Capital, the investment platform of Enterprise Singapore and the Singapore Economic Development Board, which was announced in March this year. Asia Partners and SMDV co-led the round, which also drew participation from existing and new investors, including CMLIM Capital. Amity said the investment would strengthen its financial position as it pursues expansion plans, including a potential initial public offering.
Amity acquires, operates and builds vertical AI platforms and models, with a focus on retail and customer communications. According to the company, its ecosystem reaches more than 10 million monthly active users across over 20,000 organisations worldwide, and it is expanding across Southeast Asia and Europe through acquisitions and organic growth. Amity said it surpassed $100 million in annualised revenue in 2025, more than tenfold its 2022 level, and is targeting $200 million in annualised revenue by the end of 2026, with a public listing planned for 2027. The investment follows Amity's establishment in June 2026 of its Southeast Asian regional headquarters and AI Research & Application Center (ARAC) in Singapore.
Korawad Chearavanont, executive chairman and founder of Amity, said the investment reflected confidence in the company's Series D extension and its longer-term plans. Palida Artispong, acting managing director and head of portfolio growth at Krungsri Finnovate, said Amity's appeal lay in its ability to apply AI to business operations, noting that Amity serves more than 100 business partners across retail, food and beverage, fashion and hospitality, as well as tens of thousands of SMEs. Through the vehicle, Krungsri Finnovate aims to support Amity's technological and commercial expansion in Thailand and overseas.
Beyond funding, the two groups are exploring commercial opportunities that could combine Amity's AI capabilities with Krungsri's network of financial and business partners. They are also beginning preliminary discussions on a data partnership with EGG Digital, an Amity subsidiary specialising in AI-powered data analytics, media services and marketing solutions, aimed at combining customer data and machine learning to develop personalised products for consumers and businesses.
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