Doha, August 05 (QNA) - Qatar Development Bank (QDB) has announced its investment in Multiverse Computing, a global leader in efficient and sustainable artificial intelligence.
QDB's investment forms part of the company's EUR 500 million Series C funding round, according to the Bank's press release Wednesday.
Through its investment in Multiverse Computing and as part of this partnership, QDB will support Multiverse Computing in establishing Doha as its regional headquarters, the press release added.
Commenting on this, Chief Executive Officer of QDB Abdulrahman bin Hesham Al Sowaidi said, "Our investment in Multiverse Computing reflects the ambition of the Startup Qatar Investment Program to attract high-growth technology companies that can contribute meaningfully to Qatar's innovation ecosystem."
This investment, he added, reaffirms "QDB's commitment to anchoring the industries of the future in Qatar. By supporting the establishment of the company's regional headquarters in Doha, we are bringing world-class expertise in efficient and sovereign AI closer to the local market, while creating new opportunities for partnerships, knowledge transfer and regional commercial growth."
The investment forms part of the Startup Qatar initiative, which brings together key stakeholders from across Qatar's business ecosystem, including Qatar Development Bank, which leads the initiative's investment track for global companies.
The initiative aims to attract leading technology companies to establish and expand their operations in Qatar.
Since Startup Qatar was launched in 2024, QDB has invested through the initiative in more than 40 startups from 15 countries worldwide.
Earlier this year during Web Summit Qatar 2026, QDB had announced an expansion of the Startup Qatar Investment Program. The program's target portfolio is set to reach QAR 1 billion by 2030, reinforcing Qatar's long-term commitment to building a globally competitive startup and innovation ecosystem.
Founded in Spain, Multiverse Computing specializes in developing AI language models and enhancing their efficiency through advanced compression and model architecture optimization.
The company develops its own models and can also compress third-party models, enabling AI tools to operate on standalone devices independently of large-scale cloud servers and providing users with greater sovereign control over their AI infrastructure. (QNA)