Krungsri Finnovate joins Amity's Series D of more than $100M as an extension

Krungsri Finnovate has invested in Amity's Series D round, which is worth more than US$100 million. It invested through Finnoventure Private Equity Trust I, a fund it manages, as an extension to the round. Its amount and the valuation were not disclosed.

The earlier round was led by EDBI, part of Singapore's SG Growth Capital, with Asia Partners and SMDV as co-leads. Amity is a Thai AI firm that builds AI platforms for retail, customer communications and enterprise services. Korawad Chearavanont is its founder and Executive Chairman.

Amity reports more than 10 million monthly active users across over 20,000 organisations worldwide, and its longer-term plans include a potential IPO. Amity and Krungsri say they aim to develop AI-powered services for consumers and businesses and are exploring commercial opportunities, including a preliminary data partnership with Amity's subsidiary EGG Digital.