Dara Holdings, the family office of Saudi billionaire Lubna Olayan, has significantly increased its investments in female-led startups across the United Arab Emirates since mid-2024. This strategic move aims to address the gender financing disparity prevalent in the region’s traditionally male-dominated business landscape.
In February 2025, Dara Holdings participated in a $10 million seed funding round for qeen.ai, a Dubai-based artificial intelligence startup co-founded by former Google executive Dina Alsamhan. This investment underscores the firm’s commitment to empowering women entrepreneurs in the Middle East.
Qeen.ai specializes in developing autonomous AI agents designed to enhance e-commerce operations. These agents autonomously execute tasks such as content creation, marketing, and conversational sales, enabling online businesses to streamline operations and boost efficiency. The recent funding round, led by Prosus Ventures with participation from Wamda Capital and 10x Founders, brings qeen.ai’s total funding to $12 million. The capital infusion is set to expand the company’s AI-driven platform and attract a broader customer base.
The Middle East and North Africa region has witnessed a surge in female entrepreneurship, yet women-led startups continue to face significant challenges in securing funding. In 2023, out of 583 startups that raised funding in the MENA region, only 52 were founded by women, collectively securing a fraction of the total investment. This disparity highlights the critical need for targeted investments to bridge the gender financing gap.
Dara Holdings’ investment strategy reflects a broader trend of supporting female entrepreneurs who are driving innovation across various sectors. By backing startups like qeen.ai, the firm not only fosters technological advancement but also promotes gender diversity in the business ecosystem.
The UAE’s startup ecosystem has been particularly vibrant, with the country leading the MENA region in startup investments in 2024, attracting $1.1 billion across 207 transactions. This marks a 15.4% year-on-year increase compared to 2023, indicating a robust growth trajectory. However, the proportion of funding allocated to women-led startups remains disproportionately low, underscoring the importance of initiatives like those undertaken by Dara Holdings.
Lubna Olayan, one of Saudi Arabia’s most influential business figures, has long been an advocate for women’s economic empowerment. Through Dara Holdings, she leverages her influence and resources to support female entrepreneurs, thereby contributing to a more inclusive and dynamic economic landscape in the region.
