Dubai-based AI agency specializing in ecommerce, Qeen.ai, secures $10 million in seed funding, led by venture capital firm Prosus
Dubai, United Arab Emirates – Qeen.ai, a pioneering AI startup based in Dubai, has successfully raised $10 million in a seed funding round led by Wamda Capital and other investors. This investment aims to scale Qeen.ai's AI agents for e-commerce platforms, enhancing the MENA (Middle East and North Africa) region's e-commerce market.
Established in 2023, Qeen.ai focuses on developing AI solutions tailored for the e-commerce sector. The startup's technology enables merchants to automate their e-commerce operations through domain-expert AI agents, which autonomously execute tasks such as content creation, marketing, and conversational sales.
The seed funding marks a significant milestone for Qeen.ai, allowing the company to accelerate its growth and technological development. This potential enhancement to the e-commerce ecosystem could bring AI-powered automation and personalization, significantly improving customer experience and operational scalability.
The investment in Qeen.ai is seen as a response to the growing MENA e-commerce market, projected to reach $50 billion in 2025. Key drivers of growth in the MENA e-commerce sector are identified as Saudi Arabia and the UAE.
Since launching its Dynamic Content agent in Q2 2024, Qeen.ai has served over 15 million users and generated more than 1 million SKU descriptions. These actions have helped merchants achieve a 30 percent increase in sales.
The seed round was led by Prosus Ventures, with participation from Wamda Capital, 10x Founders, and Dara Holdings. This is not the first investment in the region for Prosus Ventures, but it is the first time they are leading a seed round.
Robin Voogd, Head of Middle East Investments at Prosus Ventures, has expressed optimism about Qeen.ai's potential to leverage AI for e-commerce merchants. He praises Qeen.ai's innovative approach to AI in the e-commerce industry, stating that the startup is well-positioned to apply AI technology in an AI-first world.
The founding team of Qeen.ai is described as experts in the investment statement, with a strong background in AI and e-commerce. The fresh funds will be used to expand the platform's capabilities, scale the team, and grow the customer base, with a focus on building on existing autonomous content and marketing agents to address a broader range of challenges faced by online businesses.
With this investment, Qeen.ai's total funding now stands at $12 million. The startup plans to build on its existing autonomous content and marketing agents to address a broader range of challenges faced by online businesses, ultimately aiming to make a meaningful impact on the MENA e-commerce market by leveraging AI-driven solutions that enhance e-commerce platforms, improve customer interactions, and optimize backend processes.
This growth could foster more efficient and competitive e-commerce businesses across the region, contributing to the regional innovation hub's dynamism.
Investing in Qeen.ai's AI technology will provide tools for e-commerce merchants to utilize artificial-intelligence for tasks like content creation, marketing, and conversational sales, thereby enhancing the MENA region's e-commerce market (technology, investing, e-commerce, artificial-intelligence).
By leveraging AI for e-commerce merchants, Qeen.ai's autonomous content and marketing agents aim to optimize backend processes, improve customer interactions, and make a meaningful impact on the MENA e-commerce market, ultimately fostering more efficient and competitive e-commerce businesses across the region (finance, e-commerce, AI, technology).
