This startup has secured a cool $10 million in funding to expand its platform that offers independent AI agents tailored for e-commerce ventures.
Prosus Ventures, a major player in the e-commerce investment scene, led the seed round, marking not just a significant milestone in the Middle East’s AI industry but also across the broader MENA region. These fully automated agents take the reins in content creation, marketing endeavors, and conversational sales, empowering small and midsized businesses to compete without the need for pricey agencies or extensive ad expertise.
Unlike traditional solutions, Qeen’s AI agents are always learning from consumer interactions using their proprietary RL-UI technology, fine-tuning marketing strategies in real time for better outcomes.
Since launching its Dynamic Content agent in Q2 2024, Qeen.ai has catered to over 15 million users, churned out 1 million SKU descriptions, and helped merchants boost sales by a solid 30%, as per the company’s reports.
Qeen.ai’s subscription-based model is complemented by value-based pricing, aligning with the evolving trends in AI services. But Qeen.ai believes that with better-run e-commerce processes, the sector could see significant expansion by focusing on exceptional products and operational prowess rather than just mastering the advertising game.
The global e-commerce market is booming, driven by shifting consumer behaviors, the rise of digital payments, and improvements in logistics. to collaborate with us here.”
With a growing team spanning over 25 individuals across the UAE and Jordan, the seed funding infusion is primed to bolster Qeen.ai’s growth trajectory by fortifying its AI platform, scaling up the workforce, and attracting a broader customer base. Two of the co-founders hold AI PhDs dated over a decade ago showcasing their foresight in this field long before it became mainstream. Currently, revenue streams stem from two subscription models: content automation, where businesses pay per active SKU (typically ranging from $0.10 to $0.20 per SKU per month), and the AI marketing agent, priced based on interaction volume.
Although figures like the number of companies onboard and revenue growth insights remain undisclosed, Qeen.ai counts reputable names like Dubai Store, 6th Street, and Jumia on its client roster.
Ibrahimi departed from DeepMind to kick start Qeen.ai back in early 2023, with the company securing a $2 million pre-seed round the same year before unveiling their product in June 2024. In the MENA region, Saudi Arabia and the UAE lead the charge, with the market expected to hit a whopping $50 billion by 2025.
Capitalizing on this surge, Qeen.ai is crafting AI-powered marketing agents tailored for e-commerce enterprises across MENA. Ibrahimi’s vision extends to nurturing small businesses throughout MENA establishing a robust base and then expanding their reach beyond borders.
With a team boasting deep tech expertise and a talent pool that’s second to none Qeen.ai has a competitive edge over new players né?. The venture capitalists see Qeen.ai as a game-changer poised to revolutionize the way merchants operate, infusing AI-driven automation into online marketplaces.
With founders like Morteza Ibrahimi (CEO), Ahmad Khwileh (CTO), and Dina Alsamhan (CBO), Qeen.ai brings a wealth of expertise honed during their tenure at tech giants like Google and DeepMind.
In a chat with TechCrunch, Ibrahimi shared that their pivot to e-commerce was a mix of seizing opportunities and leveraging their experience working with Google Ads né?. Ibrahimi a former leader of a DeepMind research team specializing in self-learning AI agents is now steering the ship at Qeen.ai with the same cutting-edge technology.
“Our most exciting aspect is the caliber of AI talent we’ve attracted here” shared Ibrahimi. Smart assistants are there to suggest products negotiate deals and even help with customer service. Both big retailers and small businesses are jumping on the AI bandwagon to enhance search capabilities, streamline supply chains, and optimize checkout processes.
If AI companies have their way (and their investors’ backing), the future of shopping may very well revolve around having a chat with an assistant while all the magic happens behind the scenes.
In the bustling hub of Dubai, Qeen.ai is on a mission to make this vision a reality not only in the Middle East but beyond né?. Thanks to their background in AI coupled with a knack for ads and SEO optimization honed at Google the trio felt they had a winning combination to shake up the e-commerce space.
E-commerce has been steadily growing yet there’s still untapped potential in terms of efficient operations beyond sporadic spikes with online sales accounting for only a fraction of overall retail figures né?. “Bringing together top-notch professionals from both local and international talent pools—we’ve had individuals leaving the Bay Area, Europe, and the U.K né?. Wamda Capital, 10X Founders Fund, and Dara Holdings are among the investors partaking in this round of funding.. Fast forward to now, the recent $10 million seed funding has brought the total investment raised by Qeen.ai to a cool $12 million in less than a year.
In a landscape where AI-powered marketing agents are gaining traction globally, Qeen.ai stands out amidst the competition by zeroing in on the Middle East, an area still underserved by AI-driven marketing tools. AI is shaking up how we shop online, adding a personal touch to our experiences
