Amity Solutions, a Bangkok, Thailand-based software and AI enterprise, together with its parent company, Amity Corporation, has secured US$60 million in a Series C financing round.
Investors
Amity Solutions raised US$41.6 million, led by Insight Capital with contributions from various investors. Amity Corporation, ASOL's parent company, raised US$18.4 million, led by SMDV, with participation from Gobi Partners and other investors, totaling US$60 million. The financing includes debt structured by AlteriQ Global.
Insight Capital, an independent private equity firm based in Hong Kong, specializes in Technology and Sustainability. Founded in 2009, it manages a $500 million portfolio and excels in identifying emerging tech trends and industry leaders. Focusing on AI for a sustainable future, Insight Capital invests in AI SaaS, vertical applications, and AI computing and infrastructure.
Amity Solutions Use of Funds
The company will use the funds for GenAI research and development and its M&A strategy to acquire SaaS (software as a service) companies further.
About Amity Solutions
Amity Solutions is a multi-product software group that provides a Platform as a Service (PaaS) specializing in tailored, enterprise-grade AI applications and AI agents. Their core products include Amity Bots (enterprise chatbots), Amity Voice (voicebot platform), and Eko (collaboration platform for non-desk workers). Since early 2023, Amity Solutions has focused on developing Generative AI applications alongside its existing SaaS products. Founded in 2012, Amity Solutions' products are used by over fifty of Thailand's leading companies, including major SOEs, government agencies, banks, financial services firms, retailers, and many more.
Funding Details
Company: Amity Corporation
Raised: $60.0M
Round: Series C
Funding Month: July 2024
Lead Investors: Insight Capital, SMDV
Additional Investors: Gobi Partners, AlteriQ Global
Company Website: https://www.amitysolutions.com/
Software Category: Gen AI Solutions
Source: https://www.prnewswire.com/apac/news-releases/amity-solutions-and-parent-amity-corp-raise-us60-million-to-transform-legacy-software-products-with-generative-ai-302198872.html