WebSummit Qatar 2025 edition: GrayRock Tech and Licorne Gulf strengthen forces by Co-Investing in a Joint Venture

Two firms announced their partnership at the Web Summit 2025, the second edition of which took place in Qatar this year. They are co-investing in a new entity established in Qatar to forge strong connections and promote Grayrock’s technological capabilities in artificial intelligence. This partnership involves not only industries and companies but also local government and the entire Gulf region.

Grayrock, a company established in Oman, has demonstrated its strength and resilience in developing its operations. Through mutually beneficial relationships forged by various contracts over recent years, it has built solid ties with Licorne Gulf. This investment holding company founded by Alexandre Katrangi and Irina Duisimbekova, active in Saudi Arabia, Bahrain, and Qatar for 27 years, recognised an opportune moment to co-invest directly and establish a new technology entity in Qatar.

This decision follows a thorough analysis of the potential market as well as the development of activities and technologies associated with investments made by Licorne Gulf in the region.

“We leverage our worldwide collaborations to offer an extensive range of AI-enhanced building automation and sustainability solutions, assisting organizations in their journey toward carbon neutrality and the execution of their ESG initiatives” mentioned David Goss, Co-Founder and Managing Director of GrayRock

The new Entity will be dedicated to provide four pillars of sustainability:

AI Building Engineer: Conversational AI operates as a digital assistant for facilities managers, enhancing communication, providing insights based on data, and automating repetitive tasks. Consequently, it increases operational efficiency and enables human resources to concentrate on more strategic initiatives, thus supporting the “Social” dimension of ESG by enhancing employee productivity and well-being.

AI HVAC Optimization: Our primary AI technology optimizes HVAC systems autonomously and in real-time, leading to substantial reductions in energy usage and expenditure. This initiative directly impacts the “Environmental” component of ESG by lowering a building’s carbon emissions and fostering sustainable practices. Additionally, the potential for savings of up to 30% in operating costs bolsters the financial viability of building management.

Building Decarbonization: We offer a wide range of Software and Hardware solutions to assist organizations in meeting their Net Zero objectives. This aligns with the “Environmental” focus of ESG and showcases a concrete dedication to climate action.

Building Management System: Our AI-powered cloud solutions facilitate centralized oversight of entire building portfolios. This system allows for real-time monitoring, comprehensive data analysis, and the ability to manage building systems remotely. By adopting this centralized strategy, operational efficiency is enhanced, OPEX costs are cut down, and data-driven decision-making is enabled, thereby improving ESG outcomes across the entire portfolio.

Tech entrepreneurs and financial supporters convened in Doha for Qatar’s second annual Web Summit, where the future of artificial intelligence (AI) has taken center stage. The four-day summit on digital technology and emerging innovations began its second day on Monday, as participants observed the rapid transformation of the AI landscape.

On the second day of Web Summit Qatar 2025, several agreements and partnerships were revealed, including Doha serving as the base for a prominent payment orchestration platform and an early-stage venture investment firm, among other initiatives. Additionally, a new regional find and venture studio will be established in Doha as part of these collaborations.