Amity, a Thailand-founded artificial intelligence company, has completed a $100 million Series D funding round — the largest generative AI raise in Southeast Asian history. The round was led by EDBI, the investment arm of SG Growth Capital, with participation from Asia Partners, SMDV, and CMLIM Capital. Total funding for the company now stands at $160 million.
Founded in 2012 by Korawad Chearavanont, the 31-year-old scion of Thailand’s CP Group conglomerate, Amity has grown from a chatbot platform into a full-stack enterprise AI company. Its annualized revenue surpassed $100 million in 2025, representing more than 10-fold growth since 2022, and the company is targeting over $200 million in annualized revenue for 2026. More than 75 percent of its EBITDA in 2025 came from European operations, an unusual geographic mix for a Southeast Asian AI company.
The fresh capital will fund expansion across Southeast Asia and Europe, strengthen the company’s AI Research and Application Centre (ARAC) in Singapore, and finance strategic acquisitions planned for 2026. Amity is targeting an initial public offering around mid-2027, with the Stock Exchange of Thailand, Singapore Exchange, and Hong Kong Stock Exchange all under consideration.
Amity’s product strategy focuses on vertical AI models tailored to specific industries and agentic AI systems designed to automate business processes. Its customer base includes major Thai enterprises within the CP Group ecosystem — retailer CP ALL, telecommunications firm True Corp, CP Axtra, and CPF — as well as local banks and government agencies. The company’s ecosystem spans multiple subsidiaries including Amity Accentix, UK-based Tollring (acquired in 2024), Amity Solutions, EGG Digital, and the Amity-Nordstar joint venture.
The raise comes during a record period for AI funding. In the same week, OpenAI was reported raising $10 billion, Kleiner Perkins closed $3.5 billion across two AI-focused funds, and several smaller AI startups announced significant rounds. Amity’s ability to raise at this scale outside the U.S. and China signals that the AI investment cycle is globalizing, with Southeast Asia emerging as a region where domain-specific AI companies can build substantial businesses.
