HuePress After Shark Tank Vietnam: The Truth Behind the $200K LiFi Startup That Promised to Turn Light Into Data

Imagine turning on your living-room light and getting instant, high-speed internet. No router. No radio waves. Just the light itself delivering data through the air. That futuristic idea isn’t from a science-fiction movie. It’s the vision that HuePress, a Vietnamese deep-tech startup, brought to Shark Tank Vietnam.

When Dr. Nguyễn Văn Tràng stepped onto the stage, he wasn’t just another tech founder pitching a gadget. He was a scientist. After completing a PhD in Electrical and Electronic Engineering in South Korea, Dr. Tràng had worked on research that explored how LiFi (Light Fidelity) could send information using visible light instead of radio signals. This concept had already caught global attention because of its potential to make data transfer faster, more secure, and energy-efficient.

During his presentation, he showed how an LED bulb could both illuminate a room and transmit internet data. Viewers were stunned. The sharks leaned forward. They saw something rare a deep-tech vision built in Vietnam.

By the end of the pitch, Sharks Tuệ Lâm and Erik offered 5 billion VND (about 200,000 USD) for 25 percent equity, provided that HuePress could reach 200,000 USD in annual revenue within a year. The moment made headlines. A startup from Hanoi, using light to power the next generation of the internet, had just become the talk of Vietnam’s innovation scene.

The question now was: Could this bold idea turn from TV promise into a real business?

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The Promise: Turning Light Into the Next Internet

HuePress positioned itself as more than a smart-lighting company. Its mission was to make light the new medium for data. Through LiFi, HuePress aimed to build an entire ecosystem of devices smart bulbs, indoor positioning systems, and industrial IoT solutions, that used LED light to communicate.

The company’s catalogue and website painted a futuristic picture: homes where every lamp doubled as a network transmitter, offices where light beams replaced WiFi routers, and factories where data flowed through illumination instead of cables. This was ambitious for Vietnam, where most startups focus on apps, logistics, or fintech.

HuePress claimed to own nearly 100 patents in smart lighting and LiFi. Whether these were patents, designs, or pending filings, the number showed the company’s deep technical foundation. Vietnamese viewers, used to startups importing technology, found pride in seeing a homegrown team talking about advanced research and innovation.

Globally, the LiFi industry was gaining speed. According to MarketsandMarkets Research, the global LiFi market is projected to reach 15 billion USD by 2030, with a compound annual growth rate of more than 50 percent. This growth suggested huge potential for early innovators.

With the right support, HuePress had the chance to position Vietnam alongside leading countries in next-generation communication technology. For a short moment, it looked like light truly was the future.

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The Deal That Dimmed Halfway

Shortly after the Shark Tank episode aired, one of the sharks followed through. Shark Tuệ Lâm officially disbursed 100,000 USD to HuePress in late 2023. This payment represented half of the total offer. The other half depended on whether the company could reach the 200,000 USD revenue goal within twelve months.

That condition was designed to test commercial viability, a crucial step for a company heavy on R&D but light on sales. Investors wanted proof that HuePress could move from lab success to market traction.

As the one-year deadline approached in late 2024, curiosity grew. Would the company hit its target? Would both investors finalize the full deal?

By early 2025, there was silence. No public statement confirmed the outcome. The company’s social channels stayed quiet, and no business news outlets reported new funding rounds or financial results.

Yet HuePress did not disappear. Government records list the company as Công Ty Cổ Phần Ánh Sáng Số HuePress (HuePress Digital Lighting JSC) with Tax ID 0109604095, headquartered in Hanoi. Job listings on VietnamWorks show that HuePress continued hiring engineers, sales specialists, and IoT developers well into 2025. On Shopee Mall, the brand still sells lighting and smart-home devices under its official store.

These details paint a picture of a startup that’s still alive, operating quietly under the radar. But without any clear financial disclosures, one mystery remains: Did HuePress actually meet the KPI required to unlock the full Shark Tank deal?

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The Patent Puzzle

The bold claim of owning nearly 100 patents has been one of HuePress’s biggest talking points, and biggest mysteries. Patent ownership is a sign of technical strength and originality, especially for a deep-tech company. But verification tells a different story.

A detailed search in the Vietnam Intellectual Property Office database and the World Intellectual Property Organization (WIPO) records found only a few filings associated with HuePress or its founder. Some appear to be designs or utility models, not full patents. Others are still under review.

This gap between public claims and verifiable records raised questions among observers. Was HuePress exaggerating its portfolio to attract investors? Or were most of the patents still pending or filed under partner companies?

According to Dr. Phan Minh Tuấn, a lecturer in electronic communications at the University of Engineering and Technology in Hanoi, this situation is not unusual.

“Filing patents in Vietnam can take years, and the process costs thousands of dollars per application. Many startups say they have patents when they actually mean they’ve submitted applications or developed prototypes.”

This explanation makes sense. HuePress’s patent numbers may represent its broader R&D activity, not just officially granted rights. Still, the inconsistency highlights how transparency in communication is essential for credibility, especially for companies claiming deep-tech leadership.

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The Reality: HuePress Still Glows

Despite the lack of financial transparency, HuePress continues to show signs of activity. The “Dealer Policy” page on its website invites distributors to join its network, hinting that it is building partnerships instead of relying solely on retail sales. This move suggests a B2B pivot, targeting businesses, real-estate developers, and industrial clients instead of individual consumers.

Its products — smart bulbs, motion sensors, and LiFi-enabled IoT systems, remain available online. These devices focus on energy efficiency and smart control, such as lighting systems that automatically adjust brightness based on human presence.

These are not just consumer gadgets. They are small steps toward a larger LiFi ecosystem, showing that the company is trying to make its technology practical before scaling.

Industry analysts often note that many deep-tech companies survive through gradual evolution, not overnight success. HuePress seems to fit that pattern. While it hasn’t achieved breakout fame or mass adoption, it continues to operate, hire, and expand modestly.

That persistence alone separates HuePress from many short-lived Shark Tank startups that vanished after their TV debut.

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The Global Challenge: LiFi’s Bright but Distant Future

To understand HuePress’s struggle, it helps to look at the global picture. LiFi technology is still in its experimental phase worldwide.

International leaders like Signify (formerly Philips Lighting) and pureLiFi in the United Kingdom have made technical breakthroughs but still face challenges in cost, coverage, and real-world application. The main issue is that LiFi requires a direct line of sight between the transmitter and receiver. Even a hand movement or wall can disrupt the signal. This limits large-scale deployment in homes or public spaces.

According to a 2023 study published in the MDPI Sensors Journal, laboratory tests show that LiFi can reach speeds of up to 224 gigabits per second, but most commercial systems currently deliver much lower rates due to environmental limitations.

These facts put HuePress’s position in perspective. It’s not failing because of poor execution. It’s competing in a space where even global giants are still experimenting. For a Vietnamese startup, staying alive and active in such a field is itself an achievement.

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Lessons from HuePress

HuePress’s journey reflects both the promise and the challenge of deep-tech innovation in developing markets. It teaches three important lessons.

First, deep technology requires patience. Unlike e-commerce or apps, products like LiFi systems need years of testing, hardware optimization, and standardization before becoming profitable.

Second, transparency builds trust. When a startup makes bold claims about patents or funding milestones, it’s crucial to follow up with verifiable updates. In the era of digital media, silence often creates doubt faster than failure.

Third, adaptability equals survival. HuePress’s shift from pure LiFi development toward smart lighting and IoT solutions shows flexibility. It’s better to light smaller markets than to burn out chasing the biggest one too soon.

These insights echo broader patterns in Vietnam’s tech ecosystem. As the country pushes toward Industry 4.0, startups like HuePress represent an evolving generation, one that dares to tackle engineering problems rather than just software convenience.

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Between Light and Shadows

So, what really happened to HuePress after Shark Tank Vietnam? The company did not explode into a billion-dong success story, but it didn’t vanish either. The 5 billion VND deal remains partially executed, with 100,000 USD confirmed and the rest unverified. The revenue goal set by the sharks hasn’t been publicly confirmed. Yet HuePress continues to operate, hire, and sell products in 2025.

In many ways, HuePress’s story mirrors the nature of light itself both visible and hidden. The bright public moment on television may have faded, but behind the scenes, the company continues to glow softly.

As Dr. Tràng once said on Shark Tank, “We don’t just make lights. We make data visible.” That vision, even if still unfinished, captures something essential about innovation: progress often happens quietly, one beam at a time.