Square Peg, a prominent venture capital firm, has joined a $10 million Series A funding round for AI Hay, a Vietnam-based artificial intelligence startup, marking a significant milestone for the country’s tech ecosystem. The round was led by Southeast Asia-focused Argor Capital, with participation from existing investors such as Northstar Ventures, AppWorks, and Phoenix Holdings.
Founded by veterans of Vietnam’s leading consumer tech platforms, AI Hay is positioned as a generative knowledge discovery platform, aiming to revolutionize how businesses and individuals access and utilize AI-driven insights. This latest investment brings the company’s total capital raised to over $18 million, signaling strong investor confidence in its potential.
The funding will be used to accelerate AI Hay’s product development, expand its team, and strengthen its presence in the Asian market. With the growing demand for AI solutions, the startup is well-placed to address critical needs in sectors like education, e-commerce, and enterprise automation.
Square Peg’s involvement underscores its commitment to backing innovative tech startups across the Asia-Pacific region. The firm has a track record of supporting high-growth companies, and its investment in AI Hay highlights the increasing interest in Vietnam as a hub for tech innovation.
AI Hay’s founders expressed optimism about the partnership, noting that the expertise and network of their investors will be instrumental in scaling their operations. They aim to leverage this funding to enhance their AI capabilities and deliver cutting-edge solutions to a broader audience.
As Vietnam continues to emerge as a key player in the global tech landscape, investments like this are expected to fuel further growth in the region’s startup ecosystem. AI Hay’s success could pave the way for more AI-focused ventures to attract international attention and capital.
Andrew Lee
