Canadia Impact Fund Invests in Cambodian AI Startup Newwave in Seed Round

• Canadia Impact Fund (CIFC), Canadia Group’s corporate venture arm, has invested in the seed round of Cambodian AI and software company Newwave Tech Foundry, with terms undisclosed.
• Newwave, founded in 2024, says more than 70% of its clients are based outside Cambodia and is building RE:AI, an AI platform for small and medium businesses.
• The deal is CIFC’s second startup investment and follows Cambodia’s August 2026 launch of a national startup strategy targeting $30 million in investment by 2030.

Canadia Impact Fund (CIFC), the corporate venture capital arm of Cambodia’s Canadia Group, has invested in the seed round of Cambodian artificial intelligence (AI) and software company Newwave Tech Foundry. The Canadia Impact Fund’s investment in Newwave marks the fund’s second startup investment since its launch in 2025.

The companies did not disclose the investment amount, Newwave’s valuation, or the size of the stake. Dr. Carolyne Pung, co-founder of Canadia Impact Fund, and Kim Chan Amrithvatey, CEO and founder of Newwave, signed the agreement. The investment was announced at the third Digital Trade Forum in Phnom Penh, supported by the Asian Development Bank and launched by Cambodia’s Minister of Commerce, H.E. Cham Nimul.

What Newwave Builds

Newwave provides AI transformation and software development services to medium and large organizations. The company is also developing RE:AI, an AI platform aimed at small and medium businesses (SMBs). According to the CIFC, RE:AI’s first suite of services will help businesses integrate AI into their sales, marketing, accounting, supply chain, and HR operations. The release said the platform will launch soon but did not give a date.

Kim Chan Amrithvatey and Nhek Pich Panharith founded Newwave in 2024. The company says more than 70% of its clients are based outside Cambodia, in markets including the United States, France, the United Kingdom, the United Arab Emirates, and Australia. At home, its clients include Lucky Supermarket, part of DFI Retail Group, and its team has grown to 17 employees.

“In Cambodia, we’re seeing a new generation of entrepreneurs building companies with ambitions beyond our borders,” said Thierry Tea, CEO and co-founder of Canadia Impact Fund. “Newwave is exactly the type of company we want to support: talented and resilient founders.”

Kim Chan Amrithvatey holds an MBA in AI and IT Business from South Korea, according to the release. Nhek Pich Panharith joined FlutterFlow, the San Francisco-based low-code platform, as a core team member in 2024.

“Our digital economy sits at 1.8% of Cambodian GDP, and we believe Cambodia can compete for a much bigger share of the global tech industry,” said Nhek Pich Panharith, co-founder of Newwave.

Canadia Impact Fund Newwave Investment Follows Jalat Deal

Canadia Group launched CIFC in 2025 as its corporate venture capital initiative for young entrepreneurs in Southeast Asia. The fund made its first investment in Jalat Logistics, a Cambodian last-mile delivery startup. According to the fund, Jalat has since completed two million deliveries at a 98% success rate and grown its client base to nearly 10,000 merchants.

The Newwave deal comes weeks after Cambodia formalized policy support for its startup sector. In August 2026, the government launched its National Strategy on Startup Development 2026-2030, which targets $30 million in startup investment and 100 funded startups by 2030. Startup Cambodia recorded 235 startups in 2025, according to the release, and Plug and Play, a global innovation platform and venture capital firm, is now investing in the country.

ALSO READ: Fundly.ai Raises $4M to Expand India Pharma Supply-Chain Platform

Regional AI capital, however, remains heavily concentrated. Southeast Asian native AI startups raised $4.1 billion across 23 disclosed equity rounds through July 2026, according to Tracxn data, with a single $2.8 billion round making up about 68% of that total. Singapore accounts for the overwhelming majority of the region’s historical AI funding.

Cambodia will host FrancoTech in Phnom Penh from November 14 to 16 as part of the Francophonie Summit, bringing entrepreneurs, investors, and francophone tech networks such as French Tech to the capital.

Editorial Note: Reported and edited by the Crypto India Magazine editorial team. We use AI tools to assist with research and drafting; every article is reviewed and fact-checked by our editors.

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