A Cambodian technology startup serving clients across international markets has secured seed investment from Canadia Impact Fund (CIFC), highlighting growing interest in locally founded companies developing artificial intelligence and digital solutions for global customers.
CIFC has invested in Newwave Tech Foundry, a Cambodian artificial intelligence and software development company founded in 2024. The investment was announced during the 3rd Digital Trade Forum in Phnom Penh, attended by Commerce Minister Cham Nimul.
The financial terms of the deal were not disclosed.
Key Facts
| Indicator | Detail |
|---|---|
| Company | Newwave Tech Foundry |
| Founded | 2024 |
| Founders | Kim Chan Amrithvatey and Nhek Pich Panharith |
| Investor | Canadia Impact Fund |
| Investment stage | Seed |
| Investment amount | Not disclosed |
| Newwave employees | 17 |
| Overseas clients | More than 70% |
| International markets | US, France, UK, UAE and Australia |
| AI platform | RE |
| CIFC startup investments announced | 2 since 2025 |
Newwave Secures Second Startup Investment from CIFC
The seed investment agreement was signed by CIFC co-founder Dr. Carolyne Pung and Newwave CEO and founder Kim Chan Amrithvatey.
It represents the fund’s second announced startup investment since its launch in 2025, as CIFC expands its focus on Cambodian businesses with potential to develop beyond the domestic market.
CIFC co-founder Thierry Tea said Newwave reflects the type of company the fund aims to support, particularly businesses with international ambitions and the potential to contribute to digital transformation.
Cambodian Startup Builds Business Around AI
Newwave Tech Foundry was founded in 2024 by Kim Chan Amrithvatey and Nhek Pich Panharith.
The company provides AI transformation and software development services to medium and large organisations.
Alongside its client services business, Newwave is developing RE, an artificial intelligence platform designed to help small and medium sized businesses integrate AI into key business functions.
The platform is intended to support areas including:
| Business Function | Intended AI Application |
|---|---|
| Sales | AI supported sales processes |
| Marketing | Marketing and customer engagement |
| Accounting | Business accounting workflows |
| Supply Chain | Supply chain management |
| Human Resources | HR processes and management |
The development of RE reflects a broader effort to make AI tools accessible to smaller businesses that may not have the resources to develop their own artificial intelligence systems.
More Than 70% of Clients Are Overseas
One of the notable aspects of Newwave’s business model is its international customer base.
The company said more than 70 percent of its clients are overseas, with customers in the United States, France, the United Kingdom, the UAE and Australia.
Its Cambodian clients include Lucky Supermarket, part of DFI Retail Group.
The company has grown to 17 employees, while maintaining its focus on developing a Cambodian technology workforce alongside its international business operations.
International Experience Behind the Startup
Newwave’s founders bring experience from international technology and business environments.
Kim holds an MBA in AI and IT Business from South Korea, while Nhek served on the core team of San Francisco based FlutterFlow in 2024.
Kim said the new investment represents “validation of our direction” as Newwave prepares to expand its artificial intelligence offering.
For the company, the investment provides backing as it develops its AI products while continuing to pursue customers outside Cambodia.
Cambodia’s Emerging Global Tech Opportunity
Newwave’s international client base illustrates how Cambodian technology companies can build businesses around services and products that are not limited to the domestic market.
Unlike businesses that depend primarily on local consumer demand, technology companies can potentially deliver software development, AI transformation and digital services remotely to customers in multiple countries.
The combination of local talent, international experience and access to investment could therefore support the development of more Cambodian technology companies targeting overseas markets.
Angkor Times Analysis
Newwave’s case highlights an important feature of Cambodia’s emerging digital economy: global market access can be as important as domestic market growth for local technology startups. With more than 70 percent of its clients reportedly based overseas, the company has already built an international revenue orientation while maintaining a Cambodian technology team. The CIFC investment could provide additional resources for expanding its AI offering, particularly its RE platform, although the undisclosed investment amount means the scale of the planned expansion cannot yet be assessed.
Frequently Asked Questions
What is Newwave Tech Foundry?
Newwave Tech Foundry is a Cambodian technology company founded in 2024 that provides AI transformation and software development services to medium and large organisations.
Who invested in Newwave Tech Foundry?
Canadia Impact Fund (CIFC) invested in Newwave through a seed investment agreement announced on September 17, 2026.
How many of Newwave’s clients are international?
Newwave said more than 70 percent of its clients are overseas, including customers in the United States, France, the United Kingdom, the UAE and Australia.
What is Newwave’s RE platform?
RE is an AI platform being developed by Newwave to help small and medium sized businesses integrate artificial intelligence into sales, marketing, accounting, supply chain management and human resources.
How many employees does Newwave have?
Newwave has grown to 17 employees, according to the company.
How much did CIFC invest?
The financial terms of the seed investment were not disclosed.