Byju’s announced that it has signed an agreement with Qatar Investment Authority (QIA), a sovereign wealth fund, to establish a wholly-owned subsidiary in Doha that would focus on students in the Middle East and North Africa region (MENA).
The platform will establish a research and development center in Doha to develop Arabic-language learning content and products as part of the agreement.
At the 2022 Doha Forum on Saturday and Sunday, Byju Raveendran, Founder and CEO of Byju’s, and Mansoor Al-Mahmoud, CEO of QIA, signed the MoU in the presence of Sheikh Mohammed Bin Abdulrahman Al-Thani, Deputy Prime Minister and Foreign Minister of the State of Qatar and Chairman of QIA, as well as representatives of Byju’s.
“As we continue to witness accelerated growth in Indian and international markets, we are excited to partner with QIA in this next phase of expansion, development and building new innovations in learning in the MENA region. With a sustained focus on creating life-long value for our learners, this partnership with QIA is a significant step in realizing our vision,” said Raveendran.
“QIA is proud to help enable the development of innovative education technology platforms in the MENA region to inspire children to learn. QIA has a strong focus on investing in leading innovators globally and we want to help drive the creation of new technologies that have a positive impact on society,” said Mansoor Al-Mahmoud.
The announcement also marks a huge drive for the edtech company to expand outside of the United States ahead of its proposed IPO.