Velents announced successful closure of special investment round with Women Collective

Velents announced the closing of a special investment round with Women Collective. This round reflects several important turning points and advances our goal of using cutting-edge AI technology to transform the nature of work in the future.

The creative way that this round is advancing gender parity in the investing world makes it especially notable. Women Collective and Velents AI set new benchmarks in wealth creation for women while guaranteeing their substantial presence on the capital table of a company founded by men by providing favourable terms and valuations for female investors.

While it has been gradually rising, female participation in the MENA region is still low when compared to international norms. In venture capital and private equity, women still hold just 10% of senior positions; worldwide, this number is only 11%. Women still make up just 12% of board positions in Saudi Arabia and 13% in the United Arab Emirates. A step closer to seeing more women hold board seats and become investors is this funding round.

Important Points to Note:

Significant involvement from female investors: six new first-time angel investors and over 80% of the funding came from female investors, indicating a strong commitment to diversifying the investment community.
Encouraging women in tech: Velents’ commitment to promoting gender diversity and inclusion in the tech sector is demonstrated by this investment round.

With the launch of Velents Hiring, our flagship product, Velents is utilizing artificial intelligence to improve organizational productivity. Our goal to innovate and take the lead in changing workplace dynamics and efficiency will be accelerated by this capital infusion.

“We are thrilled and honoured by the overwhelming support from our existing investors and the Women Collective in facilitating this round. This investment is not just funding; it is a validation of our vision and a step forward in creating a more inclusive investment ecosystem,” said Mohamed Gaber, Co-Founder of Velents

Romanna Dada, Founding Partner of Women Collective said the following: “This investment round marks a crucial step towards gender equality in the investment landscape and serves as a significant testament to the forward-thinking founders at Velents AI, who are leading as pioneers in this journey. I anticipate that this will pave the way for many others to initiate similar rounds, allowing us to showcase the power of women in enhancing revenue, profitability, and growth for Velents AI as it fosters innovative solutions that drive positive change. This is the second investment in one month as part of a commitment to focus on deal-making. Think of Women Collective as a replacement for an MBA through real execution experience.”

Samar Hasan, the first angel to invest from Pakistan said: “As a passionate advocate for gender equality and a firm believer in the transformative power of emerging tech, I am thrilled to be part of this investment round with Velents AI. This investment also marks a major milestone for Women Collective since it is our first technology investment collectively as a group of powerful women investors, many of whom are investing for the first time, and I expect this to inspire many others to follow suit, showcasing the true potential of women-led investments.”