Vietnamese AI startup raises $10mn in Series A funding

Founded by a team of Vietnamese engineers and digital platform veterans, AI Hay operates a generative AI-powered knowledge search platform tailored to the Vietnamese language and culture.

The platform allows users to ask questions and receive reliable, cited responses.

Existing investors Square Peg, Northstar Ventures, AppWorks, and Phoenix Holdings also participated in the round.

Launched in June 2024, AI Hay has quickly gained traction, with more than 10 million downloads across iOS, Android, and its web platform.

The company says it processes over 100 million user queries per month and maintains an average user rating of 4.8 out of 5 from more than 140,000 reviews.

The company said the new funding will support the further development of its platform, expansion into education and entertainment, and the creation of AI-powered virtual assistants to improve accessibility for Vietnamese users.

Piruze Sabuncu, partner at Square Peg, said the Australia-based venture capital firm is proud to have backed AI Hay from its early days.

Sabuncu hailed AI Hay’s bold vision to build an AI product for everyday Vietnamese users as a demonstration that world-class technology can be built in Southeast Asia by local talent.

AI Hay provides its services free of charge, positioning itself as an accessible AI tool for daily use, particularly in education.