Qatar Development Bank (QDB) has announced an investment in Multiverse Computing, a European artificial intelligence company recently valued at EUR 1.5 billion, during a ceremony held in Doha. The move is part of Multiverse Computing’s EUR 500 million Series C funding round, which is co-led by Forgepoint Capital International, BNPP Solar Impulse Venture Fund, and Bullhound Capital, with QDB joining a consortium of global strategic investors.
Founded in Spain, Multiverse Computing focuses on developing AI language models with an emphasis on efficiency and sustainability. The company utilizes advanced compression techniques and optimized model architectures to reduce energy consumption, lower computing costs, and shorten response times. Its technology allows AI models to run on standalone devices without reliance on large-scale cloud infrastructure, providing users with enhanced control over their AI systems.
Through this investment, QDB plans to support Multiverse Computing’s efforts to establish its regional headquarters in Doha. From this base, the company will serve clients and pursue partnerships across the Middle East, leveraging its expertise in efficient and sovereign AI to contribute to Qatar’s technology ecosystem and regional innovation growth.
Abdulrahman bin Hesham Al Sowaidi, CEO of Qatar Development Bank, highlighted the strategic significance of the investment in line with the Startup Qatar Investment Program. He emphasized the aim to attract high-growth tech firms that can bolster Qatar’s innovation landscape, noting that anchoring advanced industries domestically aligns with Qatar’s Third National Development Strategy (NDS3) 2024-2030. The initiative prioritizes innovation and the integration of cutting-edge technology companies as key factors in developing a knowledge-based and diversified economy.
Enrique Lizaso, Co-founder and CEO of Multiverse Computing, described the partnership as a step toward advancing the AI industry’s focus on efficient, sustainable, and secure operations without dependence on outdated infrastructure. He cited Qatar’s forward-looking stance on sovereign AI and its strategic geographic location as significant advantages for launching the company’s CompactifAI platform in new markets throughout the Middle East and beyond.
This investment is part of the Startup Qatar initiative, which aims to attract major technology companies to expand their operations in the country. Since its launch in 2024, Startup Qatar has facilitated QDB investments in over 40 startups originating from 15 countries, underscoring Qatar’s commitment to fostering a robust and diversified technology sector.