Vietnam’s rising tech stars secure significant foreign investment

Among those leading the charge are Tran Quang Duc of AI Hay, Tran Van Vien of Filum.ai, and Nguyen The Vinh of Ninety Eight.

AI Hay: Bold vision earns investor confidence

In July, AI Hay, an artificial intelligence-powered search and knowledge research platform, completed its US$10 million Series A funding round, led by Argor Capital, with participation from venture capital firms Square Peg, Northstar Ventures, Appworks, and Phoenix Holdings.

This milestone brought its total capital raised to over $18 million, highlighting the growing maturity of Vietnam’s AI ecosystem amid global economic uncertainty.

CEO Tran Quang Duc noted that while AI is often considered a high-growth sector, many Southeast Asian investors remain cautious.

At an early-stage meeting, an investor asked how AI Hay could become a unicorn in just two and a half years — a question that initially sounded overambitious.

“It pushed us to think bigger and act faster,” Duc recalled.

He emphasized that in an AI-driven era, global growth can happen exponentially, and start-ups that adopt a bold, global mindset can accelerate rapidly.

Duc credited the team’s success to their culture of embracing challenges, learning global strategies, and focusing on sustainable development.

By combining technical excellence with strategic vision, AI Hay not only earned investor trust but also positioned itself as a company capable of delivering real value to over 100 million Vietnamese users, showing that ambition and responsibility can go hand in hand.

Filum.ai: Sincerity, real value build success

Tran Van Vien, co-founder and CEO of Filum.ai, a leading innovator in AI technology, believes that genuineness is the most effective strategy for winning investors.

“I’m not a polished presenter; I prefer speaking from the heart,” he said, recalling how a Korean investor decided to back Filum after their very first meeting.

His philosophy — investors first invest in people, then in business models — guided Filum.ai through its $1 million funding round in March, supported by venture capital firms Nextrans, VinVentures, TheVentures, and several individual investors.

Founded in 2020, Filum.ai provides AI-powered customer experience management platforms that help businesses better understand and serve their clients.

Vien views fundraising as a responsibility rather than a final achievement. 

“Investment is a prepayment of trust,” he explained. “If we don’t deliver real value, that trust is lost immediately.”

The company emphasizes solutions that generate tangible results for clients while creating meaningful, sustainable work for its team.

Vien’s approach highlights the power of transparency, empathy, and human connection in start-up success, showing that Vietnamese founders can compete globally not only through innovation but also through integrity and authentic relationship-building with investors.

Ninety Eight: Innovative products draw investment

Nguyen The Vinh, co-founder and CEO of blockchain ecosystem Ninety Eight, has consistently prioritized vision and long-term impact over short-term gains.

Before committing to the blockchain of Solana, a public blockchain platform, Vinh’s team carefully studied the technology and identified opportunities to simplify user interaction.

Their product, Coin98 Super Wallet, became the first mobile library for Solana, making blockchain far more accessible in a market where wallets were previously complex and intimidating.

These efforts attracted major global investors, including FTX, a Bahamas-based cryptocurrency exchange, and Alameda Research, a cryptocurrency trading firm in Hong Kong.

Ninety Eight’s first $4 million funding round in April 2021, led by Alameda, was followed by subsequent rounds totaling $16.5 million, including strategic investments from South Korean venture capital firm Hashed and Spartan Group, a prominent blockchain investment and advisory firm based in Singapore.

Despite these successes, Vinh stressed that fundraising remains challenging, especially during economic downturns.

“Convincing investors requires clear vision, a real product, and a capable team,” he said.

For Ninety Eight, investment is not only financial but strategic, creating partnerships that provide global exposure and expertise.

The company’s commitment to Vietnam is equally strong: all staff are Vietnamese, and the firm strictly fulfills its tax and social obligations.

Vinh believes that building a world-class blockchain ecosystem from Vietnam benefits the country, nurtures local talent, and strengthens its position in the global digital economy.