Qatar Development Bank (QDB) has joined a €500M Series C investment round for Multiverse Computing, valuing the Spanish AI company at €1.5B.
The investment was made through the Startup Qatar Investment Program alongside local ecosystem partners. The round was led by Forgepoint Capital International, BNPP Solar Impulse Venture Fund and Bullhound Capital.
Multiverse Computing develops language AI models and technologies designed to improve their efficiency through advanced model compression and algorithm optimisation. According to the announcement, its technology can reduce energy use and computing costs, speed up response times and enable models to run directly on user devices.
QDB said the investment will support Multiverse Computing’s plans to establish a regional headquarters in Doha, serving customers and technology partners across the Gulf and wider Middle East.
The partnership is also intended to attract global expertise, strengthen Qatar’s AI capabilities and support the development of local AI solutions in line with the country’s Third National Development Strategy and Qatar National Vision 2030.
Source: Lnkd
