Krungsri Finnovate Invests in Thailand Amity as Series D Funding Exceeds $100 Million

Krungsri Finnovate Joins Amity’s Series D Round

Amity’s Series D round was led by EDBI, the investment arm of Singapore’s SG Growth Capital, and co-led by Asia Partners and SMDV. The round also included participation from existing and new investors, including CMLIM Capital.

The latest investment from Krungsri reflects growing confidence in Amity’s AI business and its long-term growth plans. The company is also considering a potential initial public offering (IPO) in the future.

Companies Explore Strategic Partnership

Along with the investment, Amity and Krungsri are exploring commercial opportunities to strengthen their business relationship.

As an initial step, both companies are starting a preliminary data partnership with EGG Digital, an Amity subsidiary specialising in AI-powered big data analytics, integrated media services and marketing solutions.

The partnership aims to combine data and machine-learning capabilities to develop more personalised lifestyle and business solutions for customers.

Amity Expands Its AI Business

Amity focuses on developing specialised AI platforms and models in two main areas: retail and customer communications. Its technology helps businesses improve customer engagement and develop data-driven services.

The company serves more than 100 business partners across retail, food and beverage, fashion and hospitality. It also works with thousands of small and medium-sized enterprises (SMEs).

Its customer base extends beyond Thailand to other markets across the Asia-Pacific region and Europe.

Leadership Comments on the Investment

Korawad Chearavanont, executive chairman and founder of Amity, said the investment validates the Series D extension and strengthens the company's connection with the Thai market.

He added that the partnership could support Thailand's digital development and create opportunities to combine Amity's technology with Krungsri's business ecosystem.

Palida Artispong, acting managing director and head of portfolio growth at Krungsri Finnovate, said Amity has converted its AI expertise into practical solutions that help enterprises and small businesses compete.

About Amity

Amity is a Thailand-based AI technology group that develops vertical AI platforms and models for retail and customer communications. Through its AI research and application centre, the company provides technology solutions to more than 20,000 organisations and reaches over 10 million monthly active users.

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