BANGKOK, THAILAND, 18 June 2025 – 10Ants Enterprise, an urban revitalization company, has secured US$500,000 in Pre-Seed funding from Wavemaker Impact to support its mission of turning Southeast Asia’s underutilized urban buildings into green, vibrant hubs for small and medium-sized enterprises (SMEs). The funding will accelerate 10Ants’ work in transforming dormant spaces–such as the upper floors of traditional shophouses and unused warehouses–into affordable, eco-friendly business spaces that benefit both property owners and local entrepreneurs.
10Ants is tackling a unique challenge in cities like Bangkok, where the upper floors of older buildings are often left unused. Many of these properties are owned by second-generation landlords, who are unsure how to fully capitalize on the value of their space. At the same time, SMEs are facing increasing difficulty in finding affordable, well-located commercial spaces to grow their businesses.
By connecting these two groups, 10Ants creates a mutually beneficial ecosystem. Building owners gain a new revenue stream from previously idle properties, while SMEs gain access to commercial spaces that are up to 30% more affordable than similar properties in the same neighborhoods.
“Bangkok’s shophouses and warehouses are full of untapped potential, and the SME sector is hungry for space that supports their growth,” said Chatchanart Jiratornsirikul (JoeZ), CEO and Founder of 10Ants. “We saw a unique opportunity to bridge this gap. Our approach is not just about leasing space–it is about building a more sustainable and inclusive urban economy, one street at a time.”
Photo: 10Ants Founder Chatchanart Jiratornsirikul (JoeZ) (Standing), CEO speaking to Thai Small and Medium Enterprise (SME) owners on the benefits and opportunities of building rejuvenation through greenification and digital transformation
In the mid-term, 10Ants aims to develop its in-house property-technology platform (Prop-Tech) to offer SMEs more than just real estate matchmaking, but also a comprehensive suite of value-added services and consultancy to support their end-to-end growth journey:
- Location-specific market insights – Examples include consumer traffic flow and footfall density analysis to aid business owners in selecting high impact places to site their business
- Eco-Business Management-As-A Service – Integrated advisory support to assist business owners in optimising decisions in areas such as sourcing, procurement, and even legal administration.
- Expansion planning – Leveraging both in-house and public databases to analyse and recommend growth opportunities
In addition to helping SMEs grow economically, 10Ants is committed to environmental sustainability. The company encourages green operations among its tenants by facilitating access to eco-friendly upgrades, such as IoT-enabled energy management systems and inverter air conditioning, leading to significant long-term cost savings, and a curated selection of ‘Green Choice’ products that promote sustainable business practices. These includes, IoT-enabled devices for smart lighting and cooling, low-energy ventilation controls, and grease traps that enhance the longevity of waste-management systems
“10Ants is unlocking a long-overlooked opportunity: SME-owned real estate. While SME-owned property represents over 80% of the commercial real-estate footprint globally, it remains underserved by traditional property players. In Southeast Asia, more than 30% of SME-owned buildings are underutilized and overlooked. By leveraging green retrofits, 10Ants flips the script by rejuvenating these older buildings, increasing rental income, building value and lowering carbon footprint” said Quentin Vaquette, Founding Partner at Wavemaker Impact. “We’re excited to support JoeZ and the 10Ants team in revitalizing thousands of dormant spaces across Southeast Asia — one floor at a time.”
By transforming urban spaces and enabling SMEs, 10Ants aims to redefine the future standard for how cities can evolve to meet the needs of both property owners and growing businesses.
About 10Ants
10Ants is a Bangkok-based company dedicated to revitalizing underutilized urban spaces in Southeast Asia. By matching second-generation building owners with SMEs, 10Ants creates mutually beneficial partnerships that unlock the economic and environmental potential of dormant spaces. Beyond property, 10Ants empowers SMEs through tailored business support, data-driven recommendations, and sustainability tools, contributing to a more vibrant local economy. 10Ants was founded by Chatchanart Jiratornsirikul (JoeZ), a seasoned tech-entrepreneur who successfully exited his previous venture to a prominent Thai conglomerate in 2022.
For Media Enquiries, please contact:
Chatchanart (JoeZ) Jiratornsirikul
Founder, 10Ants
joez@the10ants.com
About Wavemaker Impact
Wavemaker Impact is Southeast Asia’s leading climate-tech venture build fund, part of Wavemaker Partners. Launched in 2021, Wavemaker Impact co-founds sustainability startups with proven entrepreneurs, with the goal of building a portfolio of companies by 2035 that has the potential to reduce 10% of the global carbon budget. Every startup that Wavemaker Impact builds is a ‘100×100’ company — with the potential to abate 100 million metric tonnes of CO2e and generate US$100 million revenue per year. Wavemaker Impact focuses on building ventures that target the biggest drivers of emissions such as agriculture, energy, industrial processes, built environment, and transport. Its US$60 million debut fund focuses primarily on Southeast Asia and includes limited partners such as the United States International Development Finance Corporation, British International Investment, Triple Jump, JG Summit, and Qarlbo Energy. For more information, visit wavemakerimpact.com.