AI Hay, a pioneering Vietnam-based artificial intelligence (AI) powered knowledge discovery platform, has successfully closed a significant $10 million Series A funding round led by Argor Capital, a prominent Southeast Asia-focused venture capital firm. This latest infusion of capital brings AI Hay’s total funding to over $18 million, underscoring strong investor confidence in Vietnam’s burgeoning AI landscape.
The funding round saw continued participation from existing investors, including Square Peg, Northstar Ventures, AppWorks, and Phoenix Holdings. The substantial investment is set to fuel AI Hay’s ambitious expansion plans, particularly its venture into web-based experiences, continued product innovation across both educational and entertainment sectors, and the development of intelligent AI companions.
Launched in May 2024, AI Hay has rapidly gained traction, redefining knowledge exploration by seamlessly merging generative AI technologies with social networking capabilities. The platform allows users to pose any question and receive reliable, context-rich answers meticulously drawn from large language models, curated local content, and a vibrant community of peers and experts. Beyond a mere knowledge engine, AI Hay fosters engagement through personalized discovery feeds, dynamic themed communities, and interactive social features, cultivating meaningful conversations and connections.
The company boasts impressive growth metrics, having achieved over 15 million downloads and facilitating more than 100 million questions and answers monthly. This rapid adoption highlights AI Hay’s success in becoming a daily habit for millions of Vietnamese users. Its momentum was further validated by its selection as one of only three Southeast Asian startups admitted to AWS’s Global Generative AI Cohort, a testament to its leadership in consumer AI.
Siddharth Pisharody, Partner at Argor Capital, expressed his firm’s enthusiasm, stating, “We were 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.”
Piruze Sabuncu, Partner at Square Peg, echoed this sentiment, remarking on AI Hay’s remarkable journey: “From the outset, they were driven by a bold vision: to create a product that could meet the everyday needs of Vietnamese users. 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.”
As Vietnam continues its push to become a leader in AI innovation, AI Hay is uniquely positioned to shape the future of information access and interaction in the nation, transforming millions of lives, one question at a time. Sources
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