Vietnamese developed AI startup secures US$10 million funding
VOV.VN - AI Hay, a Vietnamese-developed platform that combines generative AI and social networking, announced the successful completion of its US$10 million Series A funding round on July 2.
The round was led by Argor Capital, with continued participation from existing investors including Square Peg, Northstar Ventures, AppWorks, and Phoenix Holdings. The latest investment brings AI Hay’s total funding to over US$18 million.
Piruze Sabuncu, a partner at Square Peg, praised AI Hay's ambitious startup, saying AI Hay first began with a bold vision for building a practical AI product to serve all the needs of Vietnamese people. That journey has proven that world-class technology can be created by the intelligence and creativity of Vietnamese people, right in Southeast Asia.
Launched in June 2024, AI Hay has already garnered over 10 million app downloads and processed more than 100 million questions per month. It holds an impressive user rating of 4.8/5 from over 140,000 real users. The platform leverages generative AI to provide accurate, well-cited answers tailored to Vietnamese language and culture. It also features social networking capabilities, allowing users to share, discuss, and co-create knowledge in a respectful and collaborative environment.
Founded by a team of experienced Vietnamese engineers and tech experts behind several successful digital platforms, AI Hay aims to reshape how Vietnamese people access and share knowledge, especially in the field of education.
With the new capital, AI Hay plans to expand its web platform, develop new features, and integrate AI more deeply into education and entertainment. The firm is also working on building smart, helpful AI assistants to make AI more accessible to everyday Vietnamese users.
“We believe AI should not be limited to experts. It must become a mainstream tool, accessible to every Vietnamese, starting with students, who are the future of our country,” said said Tran Quang Duc, CEO of AI Hay.
This investment reflects growing global investor confidence in Vietnamese talent and products, and aligns with Vietnam’s national strategy to universalise AI as outlined in Politburo Resolution 57.
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