Canadia Impact Fund has invested in the seed round of Cambodian software and artificial intelligence company Newwave Tech Foundry, marking the fund’s second disclosed startup investment since its launch in 2025.
The companies did not disclose the amount invested, Newwave’s valuation or the stake acquired. The agreement was signed by Canadia Impact Fund co-founder Carolyne Pung and Newwave founder and chief executive Kim Chan Amrithvatey, according to a September 16 media release.
The investment was announced during the third Digital Trade Forum in Phnom Penh. The forum was supported by the Asian Development Bank and opened by Cambodia’s commerce minister, Cham Nimul.
Newwave develops AI and business software
Newwave provides AI transformation and software-development services to medium-sized and large organizations. It is also developing RE:AI, a platform intended to help smaller businesses apply AI to sales, marketing, accounting, supply-chain and human-resources work.
The startup describes RE:AI on its website as a hybrid enterprise-resource-planning and AI platform with 10 specialized agents. The investment announcement said the first services would launch soon, without giving a date. The product should therefore be treated as forthcoming rather than generally available.
Newwave was founded in 2024 by Cambodian entrepreneurs Kim Chan Amrithvatey and Nhek Pich Panharith. Kim studied AI and IT business in South Korea, while Panharith joined low-code software company FlutterFlow’s core team in 2024, according to the release. The founders’ previous roles were not independently checked.
The company has 17 employees, according to the release. It also said more than 70 percent of its clients are outside Cambodia, including customers in the United States, France, the United Kingdom, the United Arab Emirates and Australia. Newwave identifies Cambodian retailer Lucky Supermarket, part of DFI Retail Group, as a local client. Those customer and workforce figures were not independently verified.
Thierry Tea, chief executive and co-founder of Canadia Impact Fund, said the fund was backing founders with ambitions beyond Cambodia and expected Newwave to contribute to business digitalization in Cambodia and overseas.
The fund’s second disclosed startup investment
Canadia Impact Fund was established under Canadia Group in 2025 as a corporate venture-capital initiative focused on young companies in Southeast Asia. Its stated investment themes include digital transformation, sustainability and inclusive growth.
The fund’s first disclosed investment was in Cambodian last-mile delivery startup Jalat Logistics. Canadia Group announced that deal when it launched the fund in November 2025. Financial terms for the Jalat investment were also not made public.
Canadia Impact Fund said Newwave would be its second investment. The announcement did not specify how the startup would use the new capital, set performance targets or provide a timetable for another funding round.
The release placed the deal against Cambodia’s efforts to develop its startup ecosystem, including a national startup strategy for 2026 to 2030. It did not provide an independent assessment of Newwave’s competitive position or the addressable market for RE:AI.
The undisclosed terms limit comparisons with other seed financings in the region. The transaction nevertheless adds a locally founded AI and software company to a Cambodian corporate investment vehicle at a time when the country is trying to expand its startup base and digital economy.
Canadia Impact Fund launches in Cambodia with debut investment in Jalat Logistics