Cambodia Investment Review
Canadia Impact Fund has invested in the seed funding round of Newwave Tech Foundry, a Cambodian company providing artificial intelligence and software development services to businesses. The amount invested was not disclosed.
The agreement was signed by Canadia Impact Fund co-founder Dr. Carolyne Pung and Newwave founder and CEO Kim Chan Amrithvatey. It was announced at the third Digital Trade Forum in Phnom Penh, which was launched by Minister of Commerce H.E. Cham Nimul.
The deal is the fund’s second investment since its launch in 2025 and comes as Newwave prepares to introduce RE:AI, a platform designed to help small and medium-sized businesses use AI in sales, marketing, accounting, supply chains and human resources.
Cambodian company builds an international client base
Founded in 2024 by Kim Chan Amrithvatey and Nhek Pich Panharith, Newwave provides AI transformation and software development services to medium-sized and large organisations. More than 70% of its clients are outside Cambodia, across markets including the United States, France, the United Kingdom, the United Arab Emirates and Australia, according to the company.
Read More: Canadia Group Launches Canadia Impact Fund, Makes First Investment in Jalat Logistics
Its Cambodian clients include Lucky Supermarket, part of DFI Retail Group. Newwave said 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. He said the fund sees potential for Newwave to support businesses undergoing digital transformation in Cambodia and overseas.
Kim described the investment as validation of the company’s direction and said the partnership would help accelerate its plans for wider AI adoption.
Second investment for Canadia Impact Fund
Canadia Impact Fund was established as Canadia Group’s corporate venture capital initiative to back entrepreneurs in Southeast Asia. Its first investment was in Jalat Logistics, a Cambodian last-mile delivery startup.
According to the fund, Jalat has since completed two million deliveries and expanded its client base to nearly 10,000 merchants.
The Newwave deal follows the Cambodian government’s launch in August of its National Strategy on Startup Development 2026–2030. The strategy targets $30 million in startup investment and aims for 100 startups to secure funding by 2030.
Cambodia is also due to host FrancoTech in Phnom Penh from Nov. 14 to 16 alongside the Francophonie Summit, bringing together entrepreneurs, investors and francophone technology networks.
