Tencent-Backed UBTech Robotics, Abu Dhabi Capital Pen USD362.4 Million AI Deal
Dou Shicong
/SOURCE : yicai
Tencent-Backed UBTech Robotics, Abu Dhabi Capital Pen USD362.4 Million AI Deal

(Yicai Global) Nov. 12 -- Artificial intelligence unicorn UBTech Robotics has agreed a USD362.4 million contract to set up AI teaching labs for primary and secondary school students in the United Arab Emirates, in what it hailed as the world's biggest-ever deal in the AI education field.

Tencent Holdings-backed UBTech and Royal Strategic Partners, a unit of Abu Dhabi Capital Group, signed the agreement in the UAE yesterday, the Shenzhen-based company said via WeChat today. Under it, UBTech will build labs for 1,310 schools in the seven emirates of the UAE over the next four years.

The UAE, the Middle East's richest country, has been vigorously promoting development of the AI sector in recent years. The government unveiled its 2031 AI Strategy in April, aiming to turn the UAE into a global leader within a decade. Its capital city of Abu Dhabi is home to the world's first AI-focused university, the Mohamed bin Zayed University of Artificial Intelligence.

UBTech will help the UAE promote the localization and application of AI teaching solutions, design a comprehensive range of AI courses for primary and secondary schools as well as universities, and lead the Middle East and North Africa to build a talent training scheme that suits local cultural customs and educational ideas.

Founded in 2012, UBTech Robotics is a global leading AI and humanoid robotics company. The company closed its latest financing round in May last year, raising USD820 million from investors led by Tencent to lift its market value to USD5 billion.

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Keywords: UBTech Robotics , Abu Dhabi Capital Group , AI