Vietnamese startup tackles hidden AC costs for businesses

This article is a part of Startup Spotlight, a series that features young, up-and-coming startups.

Photo credit: kittimaphoto / 123RF

The idea for BenKon began on a camping trip. Co-founders Taddy Truong and Tien Dung Bui noticed their children huddling under air conditioners (ACs) instead of enjoying the outdoors. That moment drove them to design smarter cooling systems for businesses.

😟 Problem

Air conditioning is an overlooked cost driver. In Southeast Asia, cooling alone could soon be responsible for 30% of the region’s peak electricity demand, with offices, schools, hotels, and retail chains key users. Without monitoring, air conditioning units waste power, break down often, and rack up maintenance expenses.

💡 Solution

BenKon combines artificial intelligence with internet of things (IoT) tech to cut waste and automate control of commercial AC systems.

• Real-time tracking of electricity use per AC unit
• Centralized dashboard for policy-based programming across sites
• Smart scheduling and occupancy sensors for usage optimization
• Automated alerts for underperforming units to prevent failures

Image credit: BenKon

📊 Market size

The Asian AC market is projected to be worth more than US$150 billion by 2033, while Asia Pacific IoT spending is expected to reach US$437 billion in 2025.

BenKon’s contracts average US$5,000–15,000 annually, with lifetime values of US$30,000–60,000. Capturing just 5,000 customers in Vietnam translates into US$150–300 million.

🤝 Team

• Taddy Truong, co-founder & CEO – IoT engineer, patented Bluetooth Mesh later acquired by Google, Master’s in Control-Mechanical Engineering
• Tien Dung Bui, co-founder & COO – Former Nike and Adidas, Master’s in Industrial Engineering, specialist in digital transformation and manufacturing scale-up

🚀 Traction

• 1,800+ AC units monitored across more than 10 retail chains
• 100% subscriber retention over two years
• Customers expanded usage by up to 516% within a year
• Exclusive partnership with Daikin, the global AC leader
• US$16.5 million sales pipeline in Vietnam’s commercial sector

🏆 Competition

Global building management system providers like Johnson Control and Siemens dominate but remain costly and rigid for mid-sized firms. Consumer IoT brands such as Xiaomi or Tuya lack enterprise scale.

BenKon differentiates with enterprise-grade reliability, centralized control for thousands of ACs, and its exclusive Cooling-as-a-Service deal with Daikin.

💰 Financials