10Ants Enterprise, a company in Thailand focused on improving city spaces, has raised $500,000 in pre-seed funding from Wavemaker Impact. The goal is to turn unused urban buildings in Southeast Asia into green, affordable spaces for small and medium-sized businesses (SMEs).
In a statement on Wednesday, 10Ants said the money will help speed up their work in reviving empty spaces—like the upper floors of old shophouses or empty warehouses—and turning them into eco-friendly business areas that support both property owners and local entrepreneurs.
“Bangkok’s shophouses and warehouses are full of untapped potential, and the SME sector is hungry for space that supports their growth,
“We saw a unique opportunity to bridge this gap. Our approach is not just about leasing space – it is about building a more sustainable and inclusive urban economy, one street at a time,” said Chatchanart Jiratornsirikul (JoeZ), Chief Executive Officer and Founder of 10Ants.
In the near future, 10Ants plans to build its property technology (Prop-Tech) platform to offer more than just finding real estate for small businesses. The platform will also provide extra services and expert advice to help businesses grow at every stage.
This will include tools like location insights—for example, data on foot traffic and customer flow—to help business owners choose the best places to set up shop.
10Ants will also offer eco-business management as a service, giving business owners support in areas like sourcing, buying supplies, and handling legal paperwork.
Another feature will be expansion planning, using both in-house and public data to suggest the best ways for businesses to grow.
Alongside helping businesses succeed, 10Ants is also focused on protecting the environment and promoting sustainable growth.
10Ants encourages its tenants to run their businesses in an eco-friendly way by offering easy access to green upgrades. These include things like smart energy systems and inverter air conditioners, which help reduce energy use and save money over time.
“10Ants is unlocking a long-overlooked opportunity: SME-owned real estate,
“While SME-owned property represents over 80 percent of the commercial real-estate footprint globally, it remains underserved by traditional property players,” said Quentin Vaquette, Founding Partner at Wavemaker Impact.
He explained that in Southeast Asia, over 30% of buildings owned by small and medium businesses (SMEs) are underused and often ignored.
“By leveraging green retrofits, 10Ants flips the script by rejuvenating these older buildings, increasing rental income, building value and lowering carbon footprint,
“We’re excited to support JoeZ and the 10Ants team in revitalizing thousands of dormant spaces across Southeast Asia — one floor at a time,” he added.
10Ants is a company based in Bangkok that focuses on bringing new life to unused urban spaces across Southeast Asia.
In cities like Bangkok, many upper floors of old buildings are left empty and not used. These spaces are often owned by second-generation landlords who aren’t sure how to make the most of them.
Meanwhile, small and medium-sized businesses (SMEs) are struggling to find affordable, well-located spaces to grow their businesses. 10Ants is working to solve both problems at the same time.
10Ants brings property owners and small businesses together in a way that benefits both sides. Building owners earn money from spaces that are sitting empty, and SMEs get access to affordable commercial spaces—often up to 30% cheaper than similar places in the same area.
By reimagining how unused spaces are used and supporting small businesses, 10Ants is helping shape a new model for how cities can grow in a smarter, more balanced way.
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