AI Hay, an AI-powered knowledge discovery platform based in Vietnam, announced on Wednesday that it has raised $10 million in its Series A funding round. The round was led by Argor Capital, a venture capital firm focused on Southeast Asia.
Its existing investors, Square Peg, Northstar Ventures, AppWorks and Phoenix Holdings also participated in the round, bringing the total capital raised to over $18 million for the company, AI Hay said in a statement.
AI Hay’s $10 million funding is a big step forward as the company works to bring smart, easy-to-use AI tools to 100 million people in Vietnam.
The new funding will help AI Hay grow by building more web-based features, creating new products for both learning and entertainment, and developing AI companions. These changes will help make AI a bigger part of everyday digital life in Vietnam.
AI Hay was started by experienced creators of popular Vietnamese apps, along with a skilled local tech team. The platform makes learning and exploring new topics easier by combining advanced AI with social networking. Users can ask any question and get helpful, trustworthy answers based on large language models, local content, and a community of experts and peers.
More than just a search tool, AI Hay keeps users engaged with personalized discovery feeds, active topic-based communities, and social features that encourage real conversations and connections.
The AI Hay team is focused on building Vietnam’s go-to AI platform, offering smart and easy-to-use tools that millions can afford and benefit from.
Since launching in May 2024, AI Hay has grown quickly. It’s now part of many people’s daily routine, with over 15 million downloads and more than 100 million questions asked and answered each month.
The company’s strong progress was recognized when it was chosen as one of only three startups from Southeast Asia to join AWS’s Global Generative AI Cohort. This highlights AI Hay’s leadership in the field of consumer AI.
As Vietnam works toward becoming a global leader in AI, AI Hay believes it is in a special position to shape how people access and use information, changing lives one question at a time.
“It has been a real privilege to witness AI Hay’s incredible journey over the past three years,
“From the outset, they were driven by a bold vision: to create a product that could meet the everyday needs of Vietnamese users,” said Piruze Sabuncu, Partner at Square Peg.
According to him, at that time, the firm had seen rapid advancements in underlying technologies, particularly with the emergence of large language models.
“Through it all, the founders and team at AI Hay have been unwaveringly tenacious, guided by a clear product vision and creativity,
Today, their product is used by millions of users every day. We’re excited to see a homegrown champion emerging from this region, setting a powerful example for other founders that building world-class innovation right here is not just possible — it’s already happening,” he added.
Meanwhile, Siddharth Pisharody, Partner at Argor Capital, said that the firm was very impressed by the experience, depth and ambition of the founding team at AI Hay.
“The company’s ability to combine technical excellence with cultural relevance has unlocked standout user growth and engagement,
“We’re proud to support their mission to democratize AI in Vietnam, one of the world’s most dynamic digital economies,” he added.
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