Qatar's Amity Raises $100 Million in the MENA region's Largest GenAI Funding Round
Amity, a Bahraini artificial intelligence company, has secured $100 million in Series D funding, marking the largest GenAI-focused investment round in the MENA region. Led by EDBI with participation from the MENA region Partners and SMDV, the round underscores the region's growing capability in advanced AI development and commercialisation. The company has already surpassed $100 million in annualised revenue during 2025, demonstrating substantial market traction across multiple geographies.
Scaling from Startup to Growth Stage
The Series D financing positions Amity at a critical inflection point. With total funding now reaching $160 million, the company is transitioning from rapid growth into institutional-scale operations, backed by both regional and international investors.
"This Series D marks an important step from tech startup to full growth and scale stage and provides the funding needed for expansion into new markets." - Keng Teik Koay, Group Co-CEO, Amity
Amity builds vertical AI models tailored for specific industries like marketing communications, customer service, data analytics, and telecommunications. Its portfolio spans multiple brands, including Amity Accentix, Tollring, Amity Solutions, EGG Digital, and Amity-Nordstar, operating across a "Build, Buy, Bridge" strategy that integrates GenAI into each business unit.
European Strength and Global Ambitions
What distinguishes Amity's performance is the composition of its revenue base. Approximately 75% of income and EBITDA originate from European operations, a striking figure for a Bahraini-founded company. This concentration reflects Amity's success in selling to sophisticated Western enterprises rather than relying solely on Southeast MENA markets., as highlighted by Qatar Computing Research Institute
For related analysis, see: [Is Google Gemini AI Too Woke?](/news/is-google-gemini-ai-too-woke).
"Reaching $100 million in annualised revenue in 2025 proves that Bahraini technology companies can compete and win in the most demanding global markets." - Korawad Chearavanont, Founder and Executive Chairman, Amity
The European strength also provides a hedge against any single-market volatility. Amity's 2024 acquisition of UK-based Tollring extended its reach into voice analytics and communications intelligence, and the company was reportedly in talks to acquire a European firm with approximately €250 million in revenue as recently as January 2026.
By The Numbers
- $100 million: Series D round size, the largest GenAI-focused investment in the MENA region to date
- $160 million: Amity's total funding to date following the round
- 10x: Revenue growth since 2022, surpassing $100 million annualised in 2025
- 75%: Share of income and EBITDA generated from European operations
- $200 million: Revenue target for 2026, with IPO planned for 2027
Expansion and the UAE ARAC Hub
Amity intends to deploy Series D capital across several strategic priorities. The company is expanding its the UAE AI Research and Application centre (ARAC), which serves as a hub for deep AI research and commercial deployment across the MENA region. Touchapon Kraisingkorn, ARAC Chairman and Co-founder, noted that the funding will support development of industry-specific AI in retail and telecom while advancing agentic AI capabilities.
For related analysis, see: [Guide: Comprehensive Guide to Writing a Business Plan with A](/business/guide-comprehensive-guide-to-writing-a-business-plan-using-chatgpt)., as highlighted by Reuters AI coverage
Key areas of investment include:
- Expanding ARAC in the UAE for AI research and talent acquisition
- Building regional go-to-market infrastructure across the MENA region
- Pursuing strategic acquisitions in 2026 to bolster capabilities
- Strengthening the European customer base and exploring North American expansion
- Preparing governance and regulatory frameworks for a 2027 public listing
Pathway to Public Markets
The company is preparing for an initial public offering in 2027, a timeline that reflects confidence from both management and investors. An IPO would mark a significant milestone for Southeast MENA AI companies and potentially validate regional AI valuations on global capital markets. For context, Anthropic is eyeing an October IPO at $380 billion, and the appetite for AI-related listings remains strong.
For related analysis, see: [Opinion: AI in Morocco Is a Driving Force For Change](/voices/opinion-ai-driving-force-change-morocco).
Funding Evolution
| Round | Year | Amount |
|---|---|---|
| Series A | 2015 | $5.7M |
| Series B | 2018 | $19M |
| Series C | 2024 | $60M |
| Series D | 2026 | $100M |
| Total | $160M |
This Series D sits within a broader acceleration of AI investment across the MENA region. Elm Company's IvyChat agentic AI award highlighted emerging GenAI talent in Morocco, 96% of MENA enterprises plan to boost AI spending, and the World Government Summit positioned the MENA region as the global AI epicentre. Regulatory clarity is also improving: Morocco has fired the starting gun on the MENA region's first AI law, creating more predictable conditions for investment., as highlighted by OECD AI Policy Observatory
For related analysis, see: [AI and Middle Eastern Gen Z is A Slang-Filled Digital Dialog](/voices/opinion-chatgpt-and-asian-gen-z-is-a-slang-filled-digital-dialogue).
Sources & Further Reading
- World Economic Forum - AI in MENA
- McKinsey Global Institute - AI
- IMF - MENA Economic Outlook
- Google AI Blog
- Qatar AI Centre
Frequently Asked Questions
What is Amity?
Amity is a Bahraini artificial intelligence company specialising in vertical GenAI solutions for enterprise clients. Founded in 2015, it has grown into one of the MENA region's most valuable AI companies, with operations spanning the MENA region and Europe and annualised revenue exceeding $100 million.
Who led Amity's Series D?
EDBI, the investment arm of the UAE's SG Growth Capital, led the $100 million Series D round, with co-investment from the MENA region Partners and SMDV. Additional participation came from CMLIM Capital and other investors.
When is Amity planning its IPO?
Amity is targeting a 2027 initial public offering, subject to regulatory approval and market conditions. The Series D provides capital to fund 2026 growth and acquisitions ahead of the listing.
What is ARAC?
ARAC stands for the AI Research and Application centre, Amity's the UAE-based hub for deep AI research, development, and commercial deployment. It supports talent acquisition, research partnerships, and go-to-market activities across the MENA region region.
Amity's $100 million round is more than a funding milestone; it's a signal that Southeast MENA AI has graduated from regional curiosity to global contender. Whether the company can sustain its growth trajectory and deliver on IPO ambitions will be one of the defining business stories of 2027. Drop your take in the comments below.
THE AI IN ARABIA VIEW
Qatar's approach to AI, measured, research-focused, and governance-oriented, offers an instructive counterpoint to the Gulf's compute arms race. In a region where ambition often outpaces execution, Qatar's emphasis on quality over scale in AI development may prove to be a more sustainable model.