Roojai and Amity Carry Thai Startup Funding
Thailand had no disclosed equity funding in December 2025, then Amity raised $100 million in March 2026, the biggest Thai-founded round in the sources reviewed.
Two rounds account for most of the large startup money that Thai companies disclosed between November 2025 and March 2026: Roojai's $60 million and Amity's $100 million. Below them, the market is thin.
No source reviewed for this story gives a single agreed total for Thai startup funding in 2025. The regional figure is clearer. Southeast Asia raised $5.4 billion across 461 deals in 2025, a slight decline from 2024, according to the Southeast Asia Startup Funding Report for 2025 as summarised by Thailand Business News. Singapore took 91% of the capital. The report does not mention Thailand.
Roojai: a $60 million insurance bet
Roojai, a Thai direct-to-consumer insurer, announced a $60 million Series C on 26 November 2025. Apis Partners and Asia Partners co-led it, and existing shareholders HDI International, Primary Group and the International Finance Corporation took part, according to Roojai's release. Avendus Capital advised.
The money is for growth in Thailand, faster growth in Indonesia and acquisitions. Roojai is best known for online motor cover and also sells health, personal accident and travel policies. Udayan Goyal of Apis Partners called Thailand's insurance market, at around $5 billion, the largest in Southeast Asia.
DealStreetAsia's monthly tally shows how much weight that one round carried. It counted $60.3 million across two Thai equity deals in November 2025, second in the region behind Singapore. For December, its barometer recorded no disclosed equity funding for Thailand. ABACUS Digital, the Thai parent of the lending app MoneyThunder, raised $31 million in bonds that month, but debt is outside that scorecard.
Amity: $100 million, mostly earned abroad
On 25 March 2026, Amity announced a $100 million Series D led by EDBI, the investment arm of SG Growth Capital, with Asia Partners and SMDV, according to the company's release. It calls the round the largest focused on generative AI in Southeast Asia. Total funding is now $160 million.
The figures that matter are the company's own and unaudited. Amity says annualised revenue passed $100 million in 2025, more than ten times its 2022 level, and that more than 75% of its 2025 EBITDA came from its European business units. It targets more than $200 million of annualised revenue in 2026.
So Amity is Thai in its roots and its founder, Korawad Chearavanont, but its profits, its research centre in Singapore and its acquisition plans in Europe and Southeast Asia sit mostly outside Thailand. Evercore Asia advised. The company says it is preparing an IPO in 2027 and names no exchange.
Smaller rounds, steady interest
At the early end, Salary Hero, a Bangkok platform that lets employees draw wages they have already earned, announced a $7.6 million Series A on 14 October 2026. Cento Ventures led, with Kairous Capital and M Venture Partners. It serves more than 100 companies and over 300,000 employees in Thailand and plans 50 corporate partners in Malaysia by the end of 2027. Its credit line grew to $10 million.
Tracxn, a startup database, lists $151 million across 11 equity rounds in Thailand for 2026 through October. It gives only a partial 2025 comparison, and the two periods do not match, so treat that figure as direction, not a measurement.
The largest rounds here went to companies that already have revenue and a regional plan. The next things to watch are Amity's 2027 IPO and whether Roojai announces the acquisitions it raised money for.
FAQ
How much did Thai startups raise in 2025?
No source reviewed gives a full-year Thai total. Southeast Asia raised $5.4 billion across 461 deals in 2025, and DealStreetAsia counted $60.3 million for Thailand in November 2025.
What was the largest Thai startup round in 2025 to 2026?
Amity's $100 million Series D in March 2026 is the largest in the sources reviewed. In 2025, Roojai's $60 million Series C in November was the largest.
Who invested in Roojai?
Apis Partners and Asia Partners co-led, with HDI International, Primary Group and the International Finance Corporation joining as existing shareholders.
Sources
- Thailand Business News: Southeast Asia startup funding hits $5.4 billion in 2025
- Roojai: Apis Partners funds lead Series C in Roojai
- DealStreetAsia: SE Asia Deals Barometer, November 2025
- DealStreetAsia: SE Asia Deals Barometer, December 2025
- Amity Solutions: Thai tech company Amity announces US$100 million Series D
- TechNode Global: Thailand-based Salary Hero raises $7.6M, enters Malaysia
- Tracxn: Startups in Thailand
