Phnom Penh streets are full of buzzing motorbikes and small coffee carts, while inside the office towers, the tech crowd isn't sitting still either. Recently, Canadia Group's Impact Fund backed a local tech firm called Newwave, which focuses on artificial intelligence and digital transformation. The seed investment agreement was signed by Dr. Fung, co-founder of the Canadia Impact Fund, and Kim Chann Amritvattey, founder and CEO of Newwave.
Newwave is one of the faster-growing tech companies in the local market, specializing in helping businesses adopt and apply AI. Nowadays, even the juice sellers on the streets of Phnom Penh accept QR code payments on their phones, and these young techies are hoping to help local businesses upgrade their operations using AI. With this funding now secured, it looks set to make some waves in Cambodia's tech scene.
Local media noted that the investment marks a fresh start for both sides. For folks passing by on the street with an iced coffee in hand, it is just another sign of the times: even the AI crowd in Phnom Penh is starting to raise real money. Who knows, maybe one day we will even use smart dispatching to book a moto.
