04 Feb 2025
Prosus Ventures leads qeen.ai’s $10 million Seed round
- Next-gen AI startup is revolutionizing global e-commerce with agent-based platform
- Investment is one of MENA’s largest seed rounds
February 04, 2024, Dubai, UAE - qeen.ai, a leading provider of agentic AI solutions for e-commerce, announces it has raised $10M in funding - one of the largest seed investments in the MENA region to date. The funding was led by Prosus Ventures, with participation from existing investors including Wamda Capital, 10x Founders and Dara Holdings. This brings qeen.ai’s total funding to USD 12 million.
Using proprietary technology, qeen.ai develops AI agents that autonomously execute tasks and optimize their outcome based on observed user behavior. E-commerce businesses can seamlessly interact with qeen.ai’s domain-expert agents to carry out functions like content creation, marketing and conversational sales. This enables merchants to effortlessly automate e-commerce tasks, achieving performance uplifts beyond the capabilities of human operation or conventional AI applications.
The seed funding will support qeen.ai’s growth strategy by expanding the reach and capabilities of its agentic AI platform, scaling the team, and attracting a wider customer base. The Company to expand on its existing fully autonomous content and marketing agents to solve a broader range of challenges faced by online businesses.
Headquartered in Dubai, qeen.ai was founded in 2023 by former Google & DeepMind colleagues Morteza Ibrahimi, Ahmad Khwileh, and Dina Alsamhan. The founding team combines global experience, including time in the San Francisco Bay area, deep expertise in AI and e-commerce, and a shared vision of harnessing AI's transformative power to enable fundamentally new ways of operating and growing an online business.
Morteza Ibrahimi, qeen.ai Co-founder and CEO stated:
“We are proud to have the backing of Prosus Ventures and our existing investors as we work towards our vision of becoming the go-to intelligent technology partner for e-commerce businesses. By building AI solutions that are both intuitive and accessible, we enable e-commerce businesses of all sizes to scale, innovate, and thrive in the evolving digital economy.”
The e-commerce market is experiencing accelerated growth globally, fueled by evolving consumer behaviors, advanced digital payment systems and digitized logistics infrastructures. In MENA the market is projected to reach $50 billion in 2025, with KSA and the UAE as the main drivers of the boom, presenting significant opportunities for businesses ready to scale. At the forefront of this transformation, qeen.ai’s AI agents are empowering businesses to optimize their operations, enhance customer experiences, and unlock new growth opportunities in an increasingly competitive landscape.
Robin Voogd, Head of Middle East Investments at Prosus Ventures commented:
“As one of the largest e-commerce and marketplace investors in the world, we’ve seen first-hand how AI Agents are redefining the landscape of global marketplaces for online merchants. There's a huge opportunity and we believe and qeen.ai is well-placed to unlock this technology for merchants in an AI-first world. The company has demonstrated an innovative approach to bringing AI to the e-commerce industry and is backed by an expert founding team. They will provide significant value to merchants focused on delivering a strong digital shopping experience across countries.”
Since launching its Dynamic Content agent in Q2 2024, qeen.ai has served over 15 million users, generating more than 1M SKU descriptions, and enabling merchants achieve 30% uplift in sales.
About Prosus
Prosus is a global consumer internet group and one of the largest technology investors in the world.
Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.
The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors.
Through the Prosus Ventures team, the group invests in new technology growth opportunities within AI, social and ecommerce platforms, fintech, B2B software, logistics, health, blockchain, agriculture and more.
The team actively backs exceptional entrepreneurs who are using technology to improve people’s everyday lives.
Each month, more than 2 billion customers across the globe use the products and services of companies that Prosus has invested in, acquired or built. To find out more, please visit www.prosus.com.