Vietnam-based AI company AI Hay raises US$10 million in Series-A funding
Existing investors Square Peg, Northstar Ventures, AppWorks and Phoenix Holdings also took part in the round.
AI Hay is a generative AI platform that answers users' questions with contextual answers drawn not just from large language models, but also curated local content and a community of peers and experts. AI Hay also provides personalised discovery feeds, themed communities and interactive social features.
The app has been downloaded 15 million times since March 2024 and answers more than 100 million questions each month.
Siddharth Pisharody, partner at Argor Capital, said: 'The company's ability to combine technical excellence with cultural relevance has unlocked standout user growth and engagement.'
The funding will be used to support AI Hay's expansion beyond app-based experiences and product innovation in education and entertainment. AI companions will also be developed using this funding.
Piruze Sabuncu, Partner at Square Peg, said: 'We're excited to see a home-grown champion emerging from this region and setting a powerful example for other founders – that building world-class innovation right here is not just possible, it's already happening.'
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