How PiSafe Transformed After Shark Tank Vietnam Into a National Safety Platform

When Trần Xuân Trường, the founder of PiSafe, stood in front of the investors on Shark Tank Vietnam Season 6, he wasn’t just pitching another smart device. He was presenting a mission to make Vietnamese homes and businesses safer through real-time fire detection.

At first, the sharks saw PiSafe as a small but ambitious tech startup with an expensive product. Yet behind that first impression was a story about vision, resilience, and transformation. Today, PiSafe is emerging as one of Vietnam’s leading safety-tech startups, recognized not only for its innovation but for its growing role in national safety infrastructure.

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The Spark That Started It All

PiSafe began under Pitagon JSC, a Vietnamese technology company focused on building smart devices for home and industrial use. The concept was both practical and urgent: a smart fire-warning system that combined IoT (Internet of Things) sensors with real-time software monitoring.

Unlike traditional fire alarms that simply make noise, PiSafe devices can detect heat, smoke, and gas leaks, then send alerts through a mobile app within seconds. These alerts are also connected to local authorities, helping firefighters and police respond faster.

At the time of its Shark Tank appearance in 2023, PiSafe had already been on the market for five years. The company had grown steadily, earning 18 billion VND in revenue and 5 billion VND in profit that year, according to the figures revealed during the show. Each device, priced between 3.4 and 3.8 million VND, offered both individual and community safety monitoring a key factor that caught investors’ attention.

Shark Bình, known for backing bold technology startups, saw beyond the price tag. He offered $250,000 for 20% equity, valuing the company at around 31.25 billion VND (approximately $1.25 million USD).

“What I saw in PiSafe wasn’t just a product, it was the foundation of a safety ecosystem.”

Shark Bình

However, not all sharks were convinced. Some questioned whether Vietnamese consumers would pay for premium safety devices when cheaper alternatives existed. Others doubted scalability in a market where awareness about fire-prevention technology remained low.

Still, Trường’s determination was clear. For him, PiSafe was not just a business, it was a mission to save lives.

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The Turning Point: From Product to Platform

After securing investment, PiSafe began its next chapter. Instead of chasing short-term sales, the company made a strategic pivot to become a complete digital safety platform.

In February 2024, PiSafe opened a new manufacturing branch in Hưng Yên Province, where it began producing and assembling its devices in-house. This move reduced dependence on third-party manufacturers, lowered costs, and improved quality control. The facility also allowed the company to prototype faster and bring new innovations to market within months instead of years.

Over the next year, PiSafe expanded its product lineup. The new range included a Wireless Fire Warning and Fire Suppression System, designed to detect early-stage fires and release automatic extinguishing agents. Another breakthrough was its AI-based Camera Fire Recognition system, which used computer vision to detect heat signatures and flames even before smoke became visible.

To complement these devices, PiSafe developed a Rescue Support Application, helping users directly contact local authorities in emergencies. Together, these systems formed a connected ecosystem that monitored safety from detection to response.

This shift marked PiSafe’s transformation from a one-time hardware seller to a data-driven service provider. Each installed device became part of a wider safety network, allowing PiSafe to gather anonymized data and continuously improve its algorithms.

For the first time, Vietnam had a locally built, smart, integrated fire-safety platform designed specifically for its infrastructure and urban environment.

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Recognition and Real-World Impact

By the end of 2024, PiSafe’s growth was undeniable. The startup became a Top 10 finalist in Startup Wheel 2024, one of Vietnam’s largest entrepreneurship competitions supported by government agencies and major corporations. It was also recognized in the Make in Vietnam 2023 Digital Technology Product Awards, which honors local innovations that solve national problems.

These milestones helped PiSafe gain trust from government bodies, construction firms, and insurance providers. The brand started appearing in safety awareness campaigns and industry conferences, where its products were positioned as part of Vietnam’s broader push for digital transformation in fire prevention.

The timing was critical. According to the Vietnam Fire Prevention, Fighting, and Rescue Police Department, there were 2,222 fire incidents in the first half of 2024, resulting in 57 deaths and property losses exceeding 127.9 billion VND.

Each of these statistics represented not just economic damage but lives lost. PiSafe’s ability to send real-time alerts within five seconds meant those numbers could be reduced in the future.

In 2024, several provincial governments began pilot programs integrating PiSafe devices into public buildings and schools, testing whether a connected alert system could speed up emergency response. Early reports showed positive results, with firefighters receiving alerts faster than traditional call-based systems.

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Inside PiSafe’s Business Model

While PiSafe’s technology drew headlines, its business model quietly became the real engine of growth.

Rather than selling directly to individuals, PiSafe adopted a B2B2C approach business-to-business-to-consumer. This meant partnering with real estate developers, property management companies, construction contractors, and smart home distributors to include its systems in new and existing buildings.

Each device sold came with a service maintenance fee, known as “phí duy trì dịch vụ.” This annual subscription covers software updates, data monitoring, and technical support.

If we assume PiSafe sold around 5,000 units in 2023, which aligns with its 18 billion VND revenue, a 10% yearly maintenance fee would generate roughly 1.8 billion VND in recurring revenue, a steady source of income even without new hardware sales.

This recurring model not only improved financial stability but also boosted valuation. Investors tend to favor businesses with predictable revenue streams, and PiSafe’s combination of hardware sales and annual subscriptions positioned it perfectly for long-term growth.

In short, PiSafe stopped thinking like a gadget company and started acting like a safety-as-a-service provider.

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Valuation and Growth in 2025

At the time of its Shark Tank deal, PiSafe’s post-money valuation stood at 31.25 billion VND. Two years later, based on expanded product lines, partnerships, and recurring income, analysts estimate its enterprise value now ranges between 31 and 54 billion VND roughly $1.25 million to $2.16 million USD.

If PiSafe continues its current growth rate of about 50% year-over-year, it could surpass a $3 million valuation by 2026.

This growth doesn’t just come from new customers. It also comes from PiSafe’s ability to integrate with existing safety systems in offices, schools, and factories. Instead of replacing older equipment, PiSafe software can connect with it, creating a hybrid monitoring system that lowers upgrade costs for clients.

That flexibility gives PiSafe a major advantage over foreign competitors entering Vietnam’s market.

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Expert Insight: Why PiSafe’s Pivot Works

To understand PiSafe’s success, we spoke with Nguyễn Minh Tuấn, an IoT systems researcher at the Hanoi University of Science and Technology, who has studied Vietnam’s emerging safety tech sector.

“Vietnam’s fire safety market is shifting from isolated products to connected ecosystems. PiSafe succeeds because it doesn’t just make alarms, it creates the digital infrastructure that helps those alarms work together.”

This analysis highlights what makes PiSafe different. Many startups stop at selling devices, but PiSafe built the “nervous system” that connects those devices. It’s similar to how smartphones only became powerful once connected to the internet. PiSafe did the same for fire safety.

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The Roadblocks Ahead

PiSafe’s rise has not been without challenges. The company must still navigate Vietnam’s strict PCCC (Fire Prevention and Fighting) certification process to qualify for national contracts. These certifications ensure that all fire-prevention devices meet safety and performance standards set by the Ministry of Public Security.

Securing government approval can take months or even years, and many startups struggle during this phase. Yet PiSafe’s collaboration with local fire departments may help speed up the process.

Another test came in 2024 when investor Shark Bình faced unrelated legal scrutiny, creating uncertainty about his business network. Despite the controversy, PiSafe remained stable, maintaining operations and continuing to attract media coverage for its innovations.

Trust and compliance remain its top priorities as it positions itself for government and institutional partnerships.

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A Vision for Vietnam’s Safety Future

When asked about PiSafe’s long-term goals, founder Trần Xuân Trường described his dream in simple terms: “We want every Vietnamese home to have intelligent protection.”

His vision extends far beyond fire prevention. PiSafe plans to integrate AI, IoT, and Big Data analytics to predict and prevent not just fires but also gas leaks, power failures, and other home safety risks.

In a country urbanizing as fast as Vietnam, this vision could redefine how people think about home safety. Future updates may include voice-integrated safety systems, AI cameras that detect human distress, and community-level alert networks for large housing complexes.

Metaphorically speaking, PiSafe is becoming Vietnam’s digital firefighter always awake, always connected, and ready before anyone else even smells smoke.

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What PiSafe’s Journey Teaches Other Startups

PiSafe’s story is more than a success story, it’s a lesson in adaptation. Startups in Vietnam and beyond can learn three major takeaways from its journey:

1. Adapt quickly when your product hits a wall. PiSafe’s early sales slowed, but its pivot to a software platform opened new growth.
2. Focus on real-world problems. Fire safety may not be trendy, but it’s meaningful. Building trust in life-saving technology is harder than chasing viral gadgets but far more valuable.
3. Earn credibility early. In sectors involving safety or health, compliance and certification matter as much as creativity.

In the end, PiSafe’s journey shows that innovation doesn’t always start with disruption. Sometimes, it starts with a simple question: What if safety could think for itself?