Qatar Development Bank Invests to Advance Technology Localization
Qatar Development Bank (QDB) has announced an investment in Multiverse Computing, a company specializing in sustainable, high-efficiency artificial intelligence, as part of a €500 million funding round backed by an international consortium of investors.
As part of the agreement, QDB will support the establishment of the company's regional headquarters in Doha, reinforcing Qatar's position as a regional hub for technology and innovation.
The investment falls under the "Start from Qatar" initiative, through which QDB leads efforts to attract high-growth global technology companies and strengthen the country's innovation ecosystem.
QDB CEO Abdulrahman bin Hisham Al-Sowaidi said the investment reflects the bank's commitment to localizing advanced technology industries, adding that the new regional headquarters will help attract global AI expertise, promote knowledge transfer, and expand regional collaboration.
Since its launch in 2024, the "Start from Qatar" initiative has invested in more than 40 startups from 15 countries, with plans to grow its investment portfolio to QAR 1 billion by 2030, supporting Qatar's vision of a knowledge-based, innovation-driven economy.
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