Cambodia Startup Ecosystem in 2025: A Year of Resilience and Transformation

Posted On 09 January, 2025

Cambodia, known for its vibrant cultural heritage and strategic location in Southeast Asia, has quietly emerged as a promising player in the global startup ecosystem. Despite being a developing economy, Cambodia's startup landscape has shown remarkable resilience and growth in recent years. With its youthful population, increasing internet penetration, and supportive government initiatives, 2024 marked a transformative year for the ecosystem. Cambodia achieved milestones in fintech, agritech, healthtech, and tourism tech, while also fostering international collaborations and digital transformation. As we step into 2025, Cambodia’s startup ecosystem stands at the cusp of unprecedented innovation and expansion.

Record-Breaking Funding in 2024

Cambodian startups raised $350 million in 2024, a 70% increase from the previous year. Phnom Penh, the capital city, remained the hub of entrepreneurial activity, while Siem Reap and Battambang gained recognition as emerging centers for tourism tech and agritech.

Early-stage funding surged by 60%, driven by investor confidence in fintech, agritech, and e-commerce sectors. Notable funding rounds included $50 million for a fintech startup focusing on financial inclusion, $40 million for an agritech company leveraging blockchain for supply chain transparency, and $35 million for a tourism tech platform promoting sustainable travel.

Government programs such as Digital Cambodia 2025, the Startup Cambodia Initiative, and partnerships with organizations like the ASEAN Coordinating Committee on MSMEs (ACCMSME) have played a pivotal role in fostering growth.

Fintech: Driving Financial Inclusion

Fintech remains a cornerstone of Cambodia’s startup ecosystem, raising $120 million in 2024. With a significant portion of the population unbanked, fintech startups are addressing critical gaps in financial services through mobile money, digital wallets, and SME financing.

Leading players like Pi Pay, a mobile payment platform, and ABA Bank, with its innovative digital banking services, expanded their offerings. Emerging startups like DigiPay, focusing on microloans, and Bayon Wallet, a cryptocurrency-based payment solution, gained traction. Support from the National Bank of Cambodia (NBC) and initiatives like the Bakong Digital Payment System have created a conducive regulatory environment for growth.

Agritech: Empowering Farmers Through Technology

Agritech startups raised $80 million in 2024, leveraging AI, IoT, and blockchain to address challenges in food security, sustainable farming, and market access. Agriculture, a vital sector in Cambodia’s economy, presents vast opportunities for technological innovation.

Notable companies like AgriCambodia, which connects farmers with buyers through a digital marketplace, and CropSmart, specializing in precision farming solutions, are leading the way. Emerging startups like SmartAgro, focusing on drone-enabled crop monitoring, and EcoFarms Cambodia, promoting organic farming practices, are addressing critical needs. Government programs under the Agricultural Development Policy 2030 have further bolstered this sector.

Tourism Tech: Revitalizing a Key Industry

Tourism tech startups raised $60 million in 2024, leveraging digital tools to enhance travel experiences and promote Cambodia’s unique cultural and historical assets.

Companies like Angkor Tour Planner, a platform for personalized travel itineraries, and EcoCambodia, focusing on eco-tourism, are redefining the sector. Emerging startups like TempleConnect, which integrates AR for immersive historical tours, and LocalLink, a platform connecting tourists with local artisans, gained recognition. Investments under the Tourism Development Strategic Plan 2025 have supported the recovery and growth of this critical sector.

Healthtech: Bridging Healthcare Gaps

Healthtech startups in Cambodia raised $50 million in 2024, focusing on telemedicine, AI-driven diagnostics, and digital health platforms. With healthcare accessibility being a significant challenge in rural areas, healthtech innovation is addressing critical gaps.

Startups like DoctorNow, a telemedicine platform, and MediHealth Cambodia, offering affordable health insurance solutions, are transforming the sector. Companies like PharmaConnect, specializing in online pharmacies, and AI-Med Cambodia, focusing on diagnostic tools, are gaining traction. Investments under the Health Equity Fund (HEF) and government incentives for digital health have bolstered this sector’s growth.

E-Commerce and Logistics: Connecting Rural and Urban Markets

E-commerce and logistics startups in Cambodia raised $40 million in 2024, driven by the rapid rise of online shopping and growing consumer demand for convenience.

Companies like Smile Shop, an e-commerce platform, and TADA Cambodia, a ride-hailing and delivery service, continued to expand their reach. Emerging startups like KhmerMarket, focusing on rural e-commerce, and LastMile Express, providing efficient delivery solutions, are addressing critical supply chain needs. Investments under the Cambodia Digital Economy and Society Policy Framework have enabled rapid scaling.

Green Tech: Advancing Sustainability

Green tech startups in Cambodia raised $30 million in 2024, focusing on renewable energy, waste management, and sustainable urban development.

Key players like SolarCambodia, specializing in solar energy solutions, and EcoCycle, focusing on waste-to-energy initiatives, are driving the sector. Emerging startups like CleanTech Cambodia, developing eco-friendly construction materials, and GreenFuel, producing biofuels, are gaining international attention. Government policies under the National Green Growth Policy have supported innovation in this sector.

Artificial Intelligence: Powering the Future

AI startups in Cambodia raised $20 million in 2024, with applications in agriculture, healthcare, and logistics. Cambodia’s growing tech talent pool, supported by initiatives in STEM education, has enabled the rise of AI-driven solutions.

Notable startups like DataInsight Cambodia, providing predictive analytics for businesses, and AI Vision, focusing on computer vision applications, are leading the sector. Government support through the Cambodia AI Initiative and collaborations with international tech hubs have strengthened this area of innovation.

Digital Infrastructure and Smart Cities

Cambodia made significant progress in digital infrastructure in 2024, including expanded broadband access and the rollout of 5G networks. These advancements have enabled startups to innovate in IoT, cloud computing, and smart city solutions.

Phnom Penh and Siem Reap are implementing smart city initiatives focusing on AI-driven traffic management, renewable energy integration, and digital public services. Programs like Smart Cambodia 2025 have positioned the country as a regional leader in digital transformation.

Global Collaborations and Market Expansion

Cambodian startups increasingly entered international markets in 2024, with over 30 companies establishing a presence in ASEAN, Europe, and North America. Initiatives like ASEAN Startup Network and partnerships with accelerators such as Impact Hub Phnom Penh have facilitated cross-border collaborations.

Cambodia’s strategic location and growing reputation for innovation have made it an attractive destination for international investors and a launchpad for startups seeking regional expansion.

Mergers and Acquisitions (M&A): Strengthening the Ecosystem

M&A activity in Cambodia reached new heights in 2024, with 10 deals valued at $100 million. Startups in fintech, tourism tech, and agritech were the primary targets for acquisitions by regional and global corporations.

A notable deal included the acquisition of a Cambodian tourism tech platform by a multinational travel company, highlighting the ecosystem’s global relevance.

Employment and Talent Development

Cambodian startups created over 10,000 new jobs in 2024, with strong demand for professionals in fintech, AI, and healthtech. Collaborations between startups and universities, as well as government programs like the Digital Talent Development Program, have ensured a steady pipeline of skilled talent.

Investments in digital education and upskilling initiatives have empowered local professionals and attracted international talent to the ecosystem.

Challenges and Opportunities

Despite its growth, Cambodia’s startup ecosystem faces challenges such as regulatory complexities, limited access to late-stage funding, and gaps in rural infrastructure. However, opportunities lie in leveraging its young population, strategic location, and growing digital economy. Emerging sectors like green tech, tourism tech, and healthtech are poised to drive the next wave of growth.

The government’s commitment to fostering innovation, sustainability, and digital transformation will be critical in addressing these challenges and sustaining momentum in 2025.

Looking Ahead to 2025

As Cambodia’s startup ecosystem advances into 2025, it is poised for continued growth and regional recognition. Key focus areas include scaling fintech and tourism tech solutions, advancing agritech technologies, and fostering deeper international collaborations.

With its strong commitment to digital transformation, sustainability, and entrepreneurship, Cambodia is well-positioned to become a leader in Southeast Asia’s innovation economy and make a lasting global impact.

The Cambodian startup ecosystem in 2025 exemplifies resilience, creativity, and transformation. By leveraging its strengths in technology, sustainability, and international collaboration, Cambodia is shaping its future as a leader in the global innovation landscape. Startups in the country are not only addressing local challenges but are also paving the way for a sustainable and prosperous future for Southeast Asia and beyond.