Krungsri Finnovate has joined Thai AI firm Amity‘s Series D funding round of more than US$100 million. The amount was not disclosed.
The investment came through Finnoventure Private Equity Trust I, a fund managed by Krungsri Finnovate, as an extension to the round.
The earlier round was led by EDBI, part of Singapore’s SG Growth Capital, and co-led by Asia Partners and SMDV.
Amity and Krungsri are exploring commercial opportunities, including a preliminary data partnership with Amity’s subsidiary EGG Digital.
“Welcoming Finnoventure Private Equity Trust I, managed by Krungsri Finnovate, as a strategic investor is a major milestone for us.
Having a vote of confidence from one of Thailand’s leading financial institutions not only validates the momentum of our $100 million-plus Series D extension, but also reinforces our deep roots in the local market as we continue pursuing our long-term growth plans, including a potential IPO.”
Palida Artispong, Acting Managing Director and Head of Portfolio Growth at Krungsri Finnovate, said,
“Amity stands out for its deep expertise in AI and, more importantly, its ability to put AI to work in real businesses.
It has turned that capability into practical solutions that help enterprises and SMEs become more competitive.”
It reports more than 10 million monthly active users across over 20,000 organisations worldwide.
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