Byju's, Qatar Investment Authority announce MENA region-focused edtech subsidiary in Doha
New Delhi, Mar 28 (PTI) Byju's and Qatar Investment Authority have partnered to launch a new edtech business and research and development centre in Doha, a statement said on Monday.
The new entity in Doha will drive research and innovation to create learning solutions customised for students in the Middle East and North Africa (MENA) region.
Byju's said it has signed a memorandum of understanding with Qatar Investment Authority (QIA) to set up a wholly-owned subsidiary of Byju's in Doha.
"The business will introduce Byju's personalised and innovative learning offerings for students in the Middle East and North Africa region and set up a research and development centre in Doha," it added.
As per the pact, QIA and Byju's will initially work together to set the stage for the MENA-focused online education business.
The new entity, which will be a wholly-owned subsidiary of Byju's in Qatar, would introduce the edtech major's personalised learning offerings to the region.
Besides, it will also set up a new research and development centre in Qatar to create customised learning content and products in the Arabic language.
"Since 2019, QIA has been a key investor in Byju's and has witnessed the company's accelerated growth into India's most valuable start-up and the world's most valued company in the edtech sector," the statement said.
With over 150 million learners and products across 120 countries, Byju's offers personalised learning programmes for students across K-12, test prep and professional upskilling segments.
Byju Raveendran, Founder and CEO of Byju's, said: 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 innovations in learning in the MENA region. Together, we hope to achieve stronger development outcomes".
QIA has a strong focus on investing in leading innovators globally and wants to help drive the creation of new technologies that have a positive impact on society, Mansoor Al-Mahmoud, CEO of the Qatar Investment Authority, said.
"QIA is proud to help enable the development of innovative education technology platforms in the MENA region to inspire children to learn," Al-Mahmoud said.