HÀ NỘI — Start-up AI Hay has raised US$10 million in a Series A funding round led by Argor Capital, with continued participation from existing investors including Square Peg, Northstar Ventures, Appworks, and Phoenix Holdings.

The deal brings AI Hay’s total funding to more than $18 million since its launch in June 2024.

The company offers an AI-powered platform that combines knowledge search functions with social networking features tailored to the Vietnamese language and culture.

According to the firm, its mission is to make advanced AI tools accessible and useful for all Vietnamese, particularly in education, and entirely free of charge.

Since its launch just a year ago, the app has gained over 10 million downloads and now handles more than 100 million user queries each month. It has received a 4.8/5.0 rating from more than 140,000 users.

“With this new investment, we aim to expand our web platform, develop new features, and build intelligent AI assistants to better serve Vietnamese users in their daily lives,” said Trần Quang Đức, CEO and co-founder of AI Hay. “We believe AI should not be limited to experts - it must become a universal tool, starting with students, who will shape our nation’s future.”

The start-up was founded by a group of experienced Vietnamese tech entrepreneurs and engineers who previously worked on several digital platforms in the country. AI Hay uses generative AI to provide contextually relevant answers, cited and culturally aligned with Vietnamese users, while also fostering an interactive knowledge-sharing community.

Piruze Sabuncu, partner at Square Peg, praised the company’s “bold vision” to develop a locally tailored, globally competitive AI product.

“Their progress shows that world-class technology can be built by Vietnamese talent, right here in Southeast Asia,” she said.

The funding announcement comes as Việt Nam continues to push for wider adoption of AI across sectors, in line with the country’s national strategy under Resolution 57 of the Politburo. — VNS