In early July, AI Hay announced the completion of its Series A funding round, securing 10 million USD. Launched in 2022 by Vietnamese engineers, this platform combines social networking with generative AI, allowing users to ask questions and receive accurate, source-based answers tailored to Vietnamese language and culture.

Last year, AI Hay was one of two Vietnamese projects selected from 4,700 startups worldwide to receive support from Amazon Web Service, with AWS credits equivalent to 1 million USD. A representative from Square Peg, one of the funds investing in AI Hay, praised the startup for its "bold vision" to build an AI product catering to the diverse needs of Vietnamese people.

Tran Quang Duc, co-founder and CEO of AI Hay (left), with the management team. Photo: Nhut Nam

Tran Quang Duc, co-founder and CEO of AI Hay (left), with the management team. Photo: Nhut Nam

Earlier, in 3/2025, Filum AI, a management platform developed by Vietnamese developers using AI agents for automated operations, successfully raised 1 million USD. The investment came from Nextrans, VinVentures, TheVentures, and several individual investors.

Filum AI offers solutions for personalized experiences, customer journey analysis, and optimization. The platform's unique feature is the use of AI agents for automated operations and customer behavior prediction. Its products are currently used by several large enterprises in the retail and finance sectors.

Experts note that with two Vietnamese AI startups securing over 1 million USD in funding in the first half of 2025, investment in this sector is clearly growing. Data from Tracxn, an Indian market data platform, shows that Vietnam raised 5.25 million USD in one funding round during the same period last year. Compared to the 11 million USD raised by July of this year, AI startup investment has grown by 109.52%.

Many experts consider Vietnam a rising star in the AI field. In 2022, data from PitchBook Data Inc. indicated around 60 AI startups in the market, but none secured million-dollar funding rounds.

Private capital began flowing into AI startups in 2023, reaching 10 million USD. Just one year later, investment increased eightfold to 80 million USD, according to the Vietnam Innovation and Private Investment Report by the National Innovation Center. Notably, while total investment increased significantly in 2024, most startups secured smaller amounts, with Bootloader Studio's 5 million USD deal being the most prominent.

AI is considered a sector with high investment potential. The Vietnam AI Economy 2025 report suggests that by 2040, AI could contribute 120-130 billion USD to Vietnam's GDP, equivalent to about 25% of the current economy.

Research and Markets predicts Vietnam's AI market will grow from 2.15 billion USD in 2023 to 23.06 billion USD in 2028, with an annual growth rate of 48.5%. GenAI, healthcare AI, and enterprise AI are expected to attract the most investment.

Qualcomm announces its AI Research and Development Center in Vietnam. Photo: Chi Hieu

Qualcomm announces its AI Research and Development Center in Vietnam. Photo: Chi Hieu

Recognizing this trend, major players like Nvidia and Qualcomm have established AI research centers in Vietnam. Large technology corporations such as FPT, Vingroup, Viettel, and VNPT are developing internal AI models and investing in startups.

The National AI Strategy to 2030 also fosters a supportive environment for the sector. Vietnam aims to make AI a key technology sector, placing the country among the top 4 in ASEAN and the top 50 globally in AI research, development, and application. The strategy also targets the establishment of 10 reputable AI brands in the region and AI implementation in healthcare, education, industry, and public administration.

Yen Chi