BYJU'S, the world's leading ed-tech company and QIA, the sovereign wealth fund of the State of Qatar, have partnered to launch a new edtech business and state-of-the-art research and development centre in Doha. The new entity in Doha will drive research and innovation to create cutting-edge learning solutions customized for students in the and MENA region.
Mr. Byju Raveendran, Founder and CEO of BYJU'S and His Excellency Mansoor Al-Mahmoud, CEO of QIA, signed an MOU in the presence of His Excellency 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, in Doha at the 2022 Doha Forum held on March 26 and 27.
His Excellency Sheikh Mohammed Bin Abdulrahman Al-Thani, Deputy Prime Minister and Foreign Minister of the State of Qatar and Chairman of QIA, said: “QIA is supporting Qatar's national vision of economic diversification and building a knowledge-based economy. This agreement demonstrates QIA's commitment to enabling innovations that can benefit the young people of our region."
His Excellency Mansoor Al-Mahmoud, CEO of QIA said: “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."
Mr. Byju Raveendran, Founder and CEO of BYJU'S said: “The goal at BYJU'S has always been to empower students around the world with the powerful synergy of pedagogy and technology and create life-long learners. 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. Together we hope to achieve stronger development outcomes. With a sustained focus on creating life-long value for our learners, this partnership with QIA is a significant step in realizing our vision."
As per the MoU, 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, will introduce BYJU'S personalised and innovative learning offerings to the region. Additionally, it will also set up a brand new research and development center in Qatar to create customized 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. With 150+ million learners and products across 120 countries, BYJU'S is the market leader in offering personalized learning programs for students across K-12, test prep and professional upskilling segments.
Qatar Investment Authority (“QIA") is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.
BYJU'S is a global edtech company, providing highly adaptive, engaging and effective learning solutions to more than 150 million students around the world. Founded in India in 2011, BYJU'S mission is to make high-quality learning accessible to students everywhere. The BYJU'S family of brands includes Disney-BYJU'S Early Learn, BYJU'S FutureSchool, epic!, Osmo, Tynker, Toppr and WhiteHat Jr, along with its beloved flagship product BYJU'S – The Learning App. Together, BYJU'S solutions support Pre-K – 12 education and a wide range of competitive exams. Since 2017, BYJU'S has completed more than 15 acquisitions, including companies in the U.S., India and Singapore. A 2021 Time 100 Most Influential Company, BYJU'S is headquartered in India, with operations in more than 21 countries globally and learning programs in multiple languages. Contact: firstname.lastname@example.org