{"id":133505,"date":"2024-07-17T10:57:22","date_gmt":"2024-07-17T03:57:22","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=133505"},"modified":"2024-07-17T10:57:27","modified_gmt":"2024-07-17T03:57:27","slug":"amity-solutions-ai-champion","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/amity-solutions-ai-champion\/","title":{"rendered":"Amity Solutions and parent raise THB 2.2 billion Series C tobuild Thailand\u2019s AI Champion"},"content":{"rendered":"\n

Amity Solutions (ASOL), a leading Thai software and\u00a0generative AI (GenAI) developer, together with\u00a0Amity Corporation<\/a>, its parent company, has successfully raised US$60 million (THB 2.2 billion) in a Series C funding round, positioning itself to become a leading regional and global GenAI business. The company aims to play a key role in developing Thailand as a hub for GenAI development.<\/p>\n\n\n\n

This significant investment will enable ASOL to bolster its Thailand-based \u2018AI Labs<\/a>,\u2019 which builds and develops GenAI-powered applications. The funding will also support the company’s efforts to compete with regional and global players, as well as acquire synergetic companies overseas.<\/p>\n\n\n\n

Korawad Chearavanont<\/strong>, Executive Chairman and Founder of ASOL, stated, “This funding round marks a pivotal moment for ASOL and for Thailand’s AI ecosystem. We hope that ASOL can play a role in helping Thailand become a global hub for GenAI innovation. Our vision is to leverage Thai talent and creativity to solve complex problems on a global scale using cutting-edge AI technology.”<\/p>\n\n\n\n

Since early 2023, ASOL’s Al Labs has seen good success in enhancing end customer-facing software with GenAI. One notable example is Amity Bots Plus<\/a>, an enterprise platform whose chatbot mimics human conversations through GenAI learnings, resulting in better customer service delivery and profitability. Within a year of its launch, its GenAI version not only saw an 8-fold growth in annual recurring revenue but also now accounts for 27% of the product line\u2019s ARR.<\/p>\n\n\n\n

While much of ASOL’s revenues, profit, and customer base are outside of Thailand, the company’s GenAI solutions are already live with many of Thailand’s leading businesses, including True Corporation, PTT, NokAir, and Charoen Pokphand Group (CPG).<\/p>\n\n\n\n

The funding round breakdown is as follows:<\/strong><\/p>\n\n\n\n