10Ants Enterprise, an urban revitalization company based in Thailand, has secured $500,000 in Pre-Seed funding from Wavemaker Impact to support its aim of turning Southeast Asia’s underutilized urban buildings into green, vibrant hubs for small and medium-sized enterprises (SMEs).

10Ants Enterprise said in a statement on Wednesday that the funding will accelerate its work in transforming dormant spaces–such as the upper floors of traditional shophouses and unused warehouses–into affordable, eco-friendly business spaces that benefit both property owners and local entrepreneurs.

“Bangkok’s shophouses and warehouses are full of untapped potential, and the SME sector is hungry for space that supports their growth,

“We saw a unique opportunity to bridge this gap. Our approach is not just about leasing space – it is about building a more sustainable and inclusive urban economy, one street at a time,” said Chatchanart Jiratornsirikul (JoeZ), Chief Executive Officer and Founder of 10Ants.

In the mid-term, 10Ants aims to develop its in-house property-technology platform (Prop-Tech) to offer SMEs more than just real estate matchmaking, but also a comprehensive suite of value-added services and consultancy to support their end-to-end growth journey.

This includes location-specific market insights. The examples include consumer traffic flow and footfall density analysis to aid business owners in selecting high impact places to site their business.

The service also include eco-business management-as-a service, with integrated advisory support to assist business owners in optimizing decisions in areas such as sourcing, procurement, and even legal administration.

The service also includes expansion planning by leveraging both in-house and public databases to analyze and recommend growth opportunities.

In addition to helping SMEs grow economically, 10Ants is committed to environmental sustainability.

The company encourages green operations among its tenants by facilitating access to eco-friendly upgrades, such as internet of things (IoT)-enabled energy management systems and inverter air conditioning, leading to significant long-term cost savings, and a curated selection of ‘Green Choice’ products that promote sustainable business practices.

These includes, IoT-enabled devices for smart lighting and cooling, low-energy ventilation controls, and grease traps that enhance the longevity of waste-management systems.

“10Ants is unlocking a long-overlooked opportunity: SME-owned real estate,

“While SME-owned property represents over 80 percent of the commercial real-estate footprint globally, it remains underserved by traditional property players,” said Quentin Vaquette, Founding Partner at Wavemaker Impact.

According to him, in Southeast Asia, more than 30 percent of SME-owned buildings are underutilized and overlooked.

“By leveraging green retrofits, 10Ants flips the script by rejuvenating these older buildings, increasing rental income, building value and lowering carbon footprint,

“We’re excited to support JoeZ and the 10Ants team in revitalizing thousands of dormant spaces across Southeast Asia — one floor at a time,” he added.

10Ants is a Bangkok-based company dedicated to revitalizing underutilized urban spaces in Southeast Asia.

The firm is tackling a unique challenge in cities like Bangkok, where the upper floors of older buildings are often left unused.

Many of these properties are owned by second-generation landlords, who are unsure how to fully capitalize on the value of their space.

At the same time, SMEs are facing increasing difficulty in finding affordable, well-located commercial spaces to grow their businesses.

By connecting these two groups, 10Ants creates a mutually beneficial ecosystem. Building owners gain a new revenue stream from previously idle properties, while SMEs gain access to commercial spaces that are up to 30 percent more affordable than similar properties in the same neighborhoods.

By transforming urban spaces and enabling SMEs, 10Ants aims to redefine the future standard for how cities can evolve to meet the needs of both property owners and growing businesses.

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