Canadia Impact Fund Invests in Cambodian AI Transformation company Newwave

Canadia Impact Fund (CIFC) is investing in the seed round of Newwave Tech Foundry (Newwave), a fast-growing Cambodian technology and artificial intelligence company.

The investment agreement was signed by Dr. Carolyne Pung, Co-Founder of Canadia Impact Fund, and Kim Chan Amrithvatey, CEO and Founder of Newwave

The investment agreement was signed by Dr. Carolyne Pung, Co-Founder of Canadia Impact Fund, and Kim Chan Amrithvatey, CEO and Founder of Newwave. The Investment was announced during the 3rd Digital Trade Forum in Phnom Penh. The forum was launched by H.E. Cham Nimul, Minister of Commerce of Cambodia.

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 supporting the business growth of small and medium businesses. Set to launch soon, RE:AI’s first suite of services will help businesses integrate AI into their sales, marketing, accounting, supply chain and HR operations, enabling them to work more efficiently. With Southeast Asia's AI sector projected to grow from $12 billion in 2025 to nearly $80 billion by 2031, companies such as Newwave have significant opportunities to capture a share of this fast-growing market.

Newwave: Cambodian Talent, Global Reach

Founded in 2024 by Cambodian entrepreneurs Kim Chan Amrithvatey and Nhek Pich Panharith, Newwave got a rapid international traction. More than 70% of Newwave's clients are based outside Cambodia, in markets including the United States, France, the United Kingdom, the United Arab Emirates, and Australia. In Cambodia, they work with big names, one of them being Lucky Supermarket, part of DFI Retail group, and the team of Newwave 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. We believe Newwave can play a meaningful role in the digital transformation of businesses, not only in Cambodia but internationally”

Co-founder Kim Chan Amrithvatey is a serial entrepreneur with an MBA in AI and IT Business from South Korea. Co-founder Nhek Pich Panharith joined FlutterFlow in 2024 the San Francisco-based low-code platform backed by Google Ventures as a core team member, ranking among the top 1% of builders worldwide that same year.

"This isn't just capital. It's validation of our direction," said Kim Chan Amrithvatey, CEO of NewWave.

"NewWave is building the AI transformation infrastructure that Cambodia's next generation of enterprises will run on, and this partnership with Canadia Impact Fund accelerates that mission at exactly the moment we're ready to move. We're building toward a future where NewWave sets the pace for AI adoption across the region."

Supporting Cambodia's Next Generation of Entrepreneurs

Canadia Impact Fund Co. (CIFC) was launched in 2025 as Canadia Group's corporate venture capital initiative, designed to support ambitious young entrepreneurs in South-East Asia.

In the same year, CIFC made its first investment with Jalat Logistics, a last-mile delivery startup now serving thousands of merchants across the country. Since then, Jalat has completed two million deliveries, achieved a 98% success rate, and grown its client base to nearly 10,000 merchants.

Newwave marks CIFC's second investment, made at a moment of real acceleration for Cambodia's tech sector. Startup Cambodia recorded 235 startups in 2025, while the ecosystem is also attracting greater international investor interest. Plug and Play, a global innovation platform and venture capital firm, is now active and investing in the country. Also, in August 2026, the government launched its National Strategy on Startup Development 2026-2030, targeting $30 million in startup investment and 100 startups securing funding by 2030.

Cambodia's ecosystem is starting to get that visibility. From 14 to 16 November, the country will host FrancoTech as part of the Francophonie Summit in Phnom Penh, bringing entrepreneurs, investors, and francophone tech networks such as French Tech to the capital.