AI Hay, a Vietnam-based knowledge discovery platform founded by former staff of popular messaging app Zalo, has raised US$10 million in a series A round.

The funding was led by Argor Capital with support from Square Peg, Northstar Ventures, AppWorks, and Phoenix Holdings.

The round brings AI Hay’s total funding to over US$18 million.

Launched in May 2024, AI Hay combines generative AI and social networking to provide context-rich answers.

It has reached over 15 million downloads and facilitates more than 100 million questions monthly.

The funding will support its web-based expansion and innovation in education and entertainment, including developing AI companions.

🔗 Source: AI Hay

🧠 Food for thought

1️⃣ Vietnam’s AI landscape represents one of Southeast Asia’s most aggressive adoption stories

Vietnam is leading the region’s AI revolution, with 44% of SMEs prioritizing AI investments in 2024, double the 22% rate from just a year earlier1.

This rapid adoption is producing tangible results: 88% of Vietnamese businesses report improved profitability from tech investments, the highest rate in the Asia-Pacific region1.

AI Hay’s success is occurring within this broader context, where 77% of Vietnamese online sellers are already familiar with AI technology, significantly above the regional average2.

The company’s rapid growth to 15 million downloads aligns with the country’s exceptional AI readiness, where over 47% of SMEs now utilize AI tools for core business functions1.

Vietnam’s strategic advantages include a young workforce (with 60% of Southeast Asia’s population under 35) and strong government support through initiatives like the “AI for All” program, which promotes AI accessibility1.

2️⃣ Vietnam faces critical AI talent challenges despite investment momentum

Despite surging capital into Vietnam’s AI sector, the country faces a significant challenge in building a talent pool of world-class AI experts to compete globally3.