An announcement states that Amity Solutions (ASOL), a multiproduct software group based in Bangkok, and its parent company, Amity Corporation, have Raised a total of $60 million in a Series C fundraising round.
Together with new and current investors, ASOL raised $41.6 million from the Chinese venture capital firm Insight Capital. Conversely, Amity Corporation managed to obtain $18.5 million from SMDV, an existing investment. Gobi Partners provided funding for the round.
The debt financing was organised and led by AlteriQ Global, a private credit financier with an emphasis on Asia.
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Gobi made his initial investment in Amity’s $5.7 million Series A financing. In 2018, SMDV, backed by Sinar Mas, led a Series B funding round that raised around $19 million.
As stated in the announcement, ASOL plans to use the additional funds mostly for research and development related to GenAI as well as for the acquisition of SaaS companies that have a high potential for integrating GenAI.
Korawad Chearavanont launched Amity, formerly known as Eko Communications, in 2012. It purchased the Thai chatbot startup ConvoLab in 2020.
As ASOL, which separated from Amity Corporation in 2023, gets ready to go public on the Thai stock exchange, it has raised the most money to date. The money will be used by the company to advance the development of AI driven by GPT.
“The market for developing high-value use cases with existing SaaS software is underserved and we see immense potential there,” Chearavanont said.
More than fifty of Thailand’s leading businesses, including SOEs, governmental organisations, banks, financial services organisations, merchants, and more, employ ASOL’s products.
Amity Voice, a voicebot platform, Amity Bot, an enterprise chatbot platform; and Eko, a collaboration tool for non-desk workforces are some of its main offerings.
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The AI Labs at ASOL, which is in charge of developing high-value use cases using language models like OpenAI’s GPT, is the driving force behind the company’s GenAI activities.
Amity Solutions has been concentrating on creating and developing GenAI applications and solutions on top of its current SaaS offerings from the beginning of 2023.
About Amity Solutions
Amity Solutions they want to transform how businesses interact with customers and staff. They created a portfolio of innovative solutions for modern organisations’ digital needs using cutting-edge technology.AI-based generative chatbots and pre-built social features to boost app and website engagement.
