Amity Opens Singapore AI Hub Following US$100 Million Series D Funding
Source: Fintech News SG
Enterprise AI firm Amity has opened a new AI research hub in Singapore, backed by US$100 million in Series D funding led by EDBI, with plans to create up to 60 specialised AI roles and develop vertical-specific agentic AI models for financial services and other sectors.
Enterprise AI company Amity has opened its Southeast Asian regional headquarters and AI research hub in Singapore, backed by a US$100 million Series D funding round led by EDBI, the investment arm of SG Growth Capital. The new AI Research and Application Center will focus on developing agentic AI and vertical-specific models for industries including financial services, marking one of the larger enterprise AI commitments in the region this year.
The company plans to create up to 60 roles in Singapore over the next three years, with capital also earmarked for strategic acquisitions across Europe and Southeast Asia. Amity's platform already serves more than 20,000 organisations globally, and the firm is targeting US$200 million in annualised revenue by the end of 2026. Korawad Chearavanont, Executive Chairman and Founder of Amity, described Singapore as the place where the company's belief that Asian enterprises deserve AI built for their reality comes to life.
The Singapore hub aligns directly with the government's strategy of embedding AI into specific economic sectors such as financial services, advanced manufacturing, and healthcare. By building vertical models tailored to enterprise use cases — rather than relying on general-purpose LLMs — Amity is betting that Asian enterprises need domain-specific intelligence that reflects local regulatory, language, and business contexts. EDBI's involvement signals that the Singapore government sees strategic value in anchoring enterprise AI R&D capability locally.
Why it matters for Singapore: Every enterprise AI company that chooses to anchor regional R&D in Singapore strengthens the city-state's position as more than just a consumer of foreign AI platforms. EDBI's lead role in this round shows that Singapore is willing to deploy capital strategically to attract high-value AI job creation. Sixty specialised AI research roles in Singapore may seem modest, but the signal it sends — that Singapore can compete with the US and China for enterprise AI talent and investment — is disproportionate to the headcount number.