Thai AI startup Amity raises $100M Series D ahead of 2027 IPO
What's the deal? Thai AI startup Amity has raised $100 million in a Series D round led by Singapore's EDBIDealroom has a profile for this one. Try Dealroom →. The company, founded in 2012 by Korawad ChearavanontDealroom has a profile for this one. Try Dealroom → — grandson of Thai billionaire Dhanin Chearavanont — builds industry-specific AI models for sectors like retail and telecoms, and is now targeting a 2027 IPO.
Amity acquires software companies with large data assets, then layers specialised AI models on top. It crossed $100 million in annualised revenue in 2025, growing more than tenfold since 2022, with over 75% of EBITDA coming from European operations.
Why now? The company is shifting from startup to growth stage, with CEO Keng Teik KoayDealroom has a profile for this one. Try Dealroom → describing the raise as marking a new phase focused on market expansion, acquisitions, and talent. Amity is targeting $200 million in annualised revenue in 2026 and is weighing IPO venues in Thailand, Singapore, and Hong Kong for 2027.
The funds will also support the buildout of its AI Research & Application Center (ARAC) in Singapore, which will serve as a hub for enterprise AI product development and deployment.
What could go wrong? Southeast Asian startup funding remains volatile — the region raised just $128.7 million across 27 deals in February 2026, down 94% from the prior month's data centre-inflated figure. Amity's heavy reliance on European revenue also exposes it to macro and FX risks outside its home region.
A 2027 IPO is an ambitious timeline for a company that has not disclosed its valuation. Listing appetite in Asian public markets could shift considerably by then.
The signal: Amity joins a growing cohort — including Glean TechnologiesDealroom has a profile for this one. Try Dealroom → and Cohere — racing to commercialise enterprise AI by turning proprietary corporate data into deployable systems. Its vertical AI bet, focused on industry-specific models rather than general-purpose ones, reflects a broader conviction that the next wave of AI value lies in specialised, high-ROI applications.
Southeast Asia's AI investment story is still being written, but rounds of this size signal the region is producing credible contenders — not just consumers — in the global AI race.
Sources:
Bloomberg
Business Times
Tech Edt
Startup Rise
TNGlobal
e27
Deal Street Asia
Amity's LinkedIn post
Image credit:
Amity
J.V.
