Thailand-founded Amity opens a Singapore AI hub as its global research base, ahead of a planned 2027 IPO
Amity, an enterprise-AI software firm founded in Thailand, has launched a Singapore office and AI Research & Application Centre that will serve as its regional headquarters for Southeast Asia and the global home of its AI research capabilities, according to TechNode Global. The centre will develop industry-specific AI models for enterprise use and support clients across the region, with the company planning for up to 60 roles to be created there over the next three years.
The expansion builds on a US$100 million Series D round — disclosed in March and led by EDBI, the investment arm of SG Growth Capital, alongside Asia Partners, SMDV and CMLIM Capital — which DealStreetAsia reported at the time as the largest AI and machine-learning investment in Southeast Asia in the first quarter of 2026. Amity says it surpassed US$100 million in annualised revenue in 2025, is targeting US$200 million by end-2026, and is preparing for a public listing in 2027. Its deployment strategy leans on acquisitions in Europe and Southeast Asia.
Malaysia's Digital Penang and OSK Ventures open a one-year channel to finance AI and deeptech startups
Digital Penang, a Malaysian state-owned agency focused on the digital economy, and OSK Ventures International Berhad signed a one-year memorandum of understanding on June 29 to strengthen access to growth capital for startups and SMEs in Penang, with a focus on AI, hardtech and deeptech, according to TechNode Global. Digital Penang will act as a state-backed ecosystem enabler engaging with local companies, while OSK Ventures brings venture-financing expertise spanning both venture debt and equity.
The partnership explicitly targets a structural gap: limited access to growth-stage financing for companies in capital-intensive, technology-driven sectors, which typically face longer development cycles and more complex commercialisation paths than conventional businesses. The stated aim is to improve connectivity between high-potential enterprises and institutional capital providers, building a stronger pipeline of investment-ready companies.
Singapore's Qashier raises a US$6.125 million Series A+ to scale its four-market merchant operating system
Qashier, a Singapore-based unified merchant operating system for Southeast Asia, has raised US$6.125 million in a Series A+ round led by Cocoon Capital, with participation from IFP Securities, BlackSoil Global and strategic angel investors, according to TechNode Global. The platform bundles payments, business software, CRM and embedded financial services into more than 50 integrated modules, and currently operates across Singapore, Malaysia, Thailand and the Philippines, serving over 20,000 merchants processing roughly US$1 billion in annualised payment volume.
The company said it will use the capital for regional expansion and product development, including enhanced omnichannel payments, expanded embedded financial services, AI-enabled insights and workflow automation, and solutions for larger multi-outlet businesses. Its revenue-based lending product, QashierLoans, has disbursed more than US$10 million since launching in June 2025; Qashier has raised under US$20 million in total to date while reporting 61 percent annualised recurring-revenue growth.
Eyes on the Day Ahead
No fixed regulatory deadline falls in the next 24–48 hours, so the watch-list runs into early July. The nearer-term reads are commercial: whether Amity's Singapore-base and 2027-IPO messaging draws follow-on interest to Southeast Asia's thin roster of listing-bound enterprise-AI names, and whether the Digital Penang–OSK Ventures memorandum converts into disclosed venture-debt or equity commitments for Penang deeptech companies. Further out, watch Vietnam's pilot crypto-exchange framework — five domestically backed contenders have cleared an initial review — for movement toward live licensing as the country targets a Q3 2026 market launch, and Bank Negara Malaysia's timeline for greater clarity on ringgit stablecoins and tokenised deposits, which it has signalled for later in 2026.
Layer 7 Ventures is a research-driven firm focused on AI and cryptocurrency in Southeast Asia. Views expressed are those of the firm and do not constitute investment advice.
