AI Agents for E-Commerce Startup Secures $10M in Seed Funding from Founders with Google and DeepMind Backgrounds
The Impact of AI on Online Shopping
Artificial Intelligence (AI) is revolutionizing the way we shop online by making our experiences more personalized. Advanced technologies are being deployed by both large retailers and smaller businesses to enhance search capabilities, streamline supply chains, and facilitate smoother checkout processes. Instead of traditional shopping methods, the future looks like a conversation with an intelligent assistant who can help negotiate deals and manage customer service tasks efficiently.
Innovations in E-Commerce: Qeen.ai
A remarkable example of AI’s potential is showcased by Qeen.ai, a startup based in Dubai. With a recent funding milestone of $10 million, Qeen.ai is set to expand its platform, which offers automated AI agents specifically designed for e-commerce. This significant investment round, led by Prosus Ventures, is one of the largest in the AI sector within the Middle East and the broader MENA region. Prosus believes that Qeen.ai is strategically positioned to transform the role of AI in enhancing online business operations.
The founding trio of Qeen.ai—Morteza Ibrahimi (CEO), Ahmad Khwileh (CTO), and Dina Alsamhan (CBO)—brings a wealth of experience from their previous roles at tech giants like Google and DeepMind. This extensive background in AI has equipped them with the necessary skills to foster innovative solutions in the e-commerce landscape.
Understanding the E-Commerce Landscape
Despite its steady growth over the years, e-commerce still constitutes about 15% to 20% of retail sales globally, as evidenced by data from the U.S. Census Bureau. Qeen.ai believes that optimizing e-commerce operations can amplify this figure. Their approach focuses on enhancing product management and operational effectiveness instead of solely relying on advertising strategies.
The global growth of e-commerce is being driven by shifts in consumer behavior, improvements in digital payment methods, and advances in logistics. It is estimated that the e-commerce market in the MENA region could reach $50 billion by 2025, with Saudi Arabia and the UAE at the forefront of this growth. Qeen.ai is tapping into this potential by creating AI-powered marketing solutions that allow small and medium-sized businesses to thrive without depending heavily on external ad agencies.
Features and Benefits of Qeen.ai
Qeen.ai’s distinct selling point is its AI agents, which continuously learn from user interactions using proprietary technology. This adaptive capability enables businesses to refine their marketing strategies in real time. One standout feature is dynamic text personalization, where product information is tailored according to the user’s device, enhancing the shopping experience.
Since the introduction of their Dynamic Content agent, Qeen.ai has reached impressive milestones, including serving over 15 million users and boosting client sales by as much as 30%. The company utilizes a subscription-based pricing model, charging businesses based on active stock-keeping units (SKUs) and per-interaction volumes.
The Competitive Edge of Qeen.ai
While many AI-driven sales and customer service platforms grapple with high turnover rates as businesses frequently change providers, Qeen.ai has reported better retention rates. The integration of its AI agents into merchants’ everyday workflows has made them indispensable tools rather than optional software.
Ibrahimi, who co-founded Qeen.ai after leaving DeepMind, has noted that despite competition from other startups in the U.S. and Europe, Qeen.ai is uniquely focused on serving the Middle East. This market has been largely underserved when it comes to AI-driven marketing tools for small businesses.
The company’s strong expertise in deep technology and the recruitment of top-tier talent set it apart from newer competitors. The co-founders hold advanced degrees in AI and years of experience in developing innovative solutions, contributing to Qeen.ai’s position as a leader in the field.
The Future of Qeen.ai
The recent funding will enable Qeen.ai to refine its AI offerings, grow its team, and expand its customer base. The company currently employs over 25 professionals in the UAE and Jordan and plans to continue attracting exceptional talent from both local and international markets. With a strong commitment to advancing e-commerce through AI innovations, Qeen.ai is poised for a promising future in shaping the online shopping experience.
