Vietnam ranks second in Southeast Asia, after Singapore, in terms of the number of artificial intelligence (AI) startups. However, the country’s 765 AI and machine learning (ML) startups secured just US$47.3 million in funding in the first nine months of 2024, according to data from PitchBook Data Inc. This indicates a shortage of funding relative to the number of startups, with each startup receiving an average of around US$62,000 in this period. Many AI startups in Vietnam have been attractive to venture capital, particularly those established early in 2016 and 2017. These startups have successfully integrated AI and ML tools into their operations and business models, demonstrating effective use of AI. Leading AI users According to Statista, by May 2024, five Vietnamese AI startups, including OKXE, Infoplus, JobHopin, Teky, and MFast, had attracted the most venture capital. OKXE topped the list, raising about US$15 million over five funding rounds. OKXE, a Korean startup operating in Vietnam, serves as a platform for used motorbike sales, integrating financial and insurance services. Founded in 2018, with headquarters in Hanoi and a trading center in HCMC, OKXE aims to simplify motorbike transactions through secure, transparent methods. By the end of 2023, OKXE had grown […]
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