New startup unicorn valued at $2 bln appeared in Kazakhstan

Network School, an international education and technology initiative headquartered in Kazakhstan, is attracting investment at a valuation of $2 billion. The investment round involves leading venture capital funds and technology companies, El.kz reports citing the press service of the Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan.

The investment round was announced recently at the Network State Conference 2026, attended by Deputy Prime Minister and Minister of Artificial Intelligence and Digital Development of Kazakhstan Zhaslan Madiyev.

Kazakhstan becomes the headquarters of an intl initiative

In July this year, the Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan and Network School signed a memorandum of understanding on relocating the initiative’s headquarters to Astana.

The agreement resulted from efforts to attract international technology entrepreneurs, investors and new projects to Kazakhstan. The cooperation also provides for the development of opportunities to train professionals equipped with the skills required in the global labour market.

The investment round in Network School is being led by cryptocurrency investment fund Polychain Capital. According to its founder and Chief Executive Officer, Olaf Carlson-Wee, the financing round also involves venture capital firm Andreessen Horowitz, US-based cryptocurrency exchange Coinbase and Network School founder Balaji Srinivasan.

“We are co-leading the Network School investment round with Andreessen Horowitz, Coinbase and Balaji himself. The project is valued at $2 billion as part of this round,” Olaf Carlson-Wee stated.

The announced valuation places Network School in the category of so-called unicorns. In the venture capital industry, this term refers to privately held companies valued at more than $1 billion.

It should be noted, however, that this figure represents the project’s valuation in the context of fundraising. The Ministry’s statement does not specify the final amount of the investment round or the volume of funding already secured.

Network school relocates to Alem.ai in Astana

Network School founder Balaji Srinivasan announced that the project’s participants would relocate to a new urban campus at the Alem.ai International Artificial Intelligence Centre in Astana.

The plans include developing a technology hub in the capital, attracting international startups and venture capital investors, and further strengthening the city’s role as a centre for technological innovation. Another area of cooperation will involve participation in the crypto-city project in Alatau.

“Kazakhstan’s role is to provide the necessary permits and, in a sense, the platform. Our role is to bring capital, talent and execution. This combination can deliver very strong results,” the Network School founder noted.

Srinivasan also expressed a positive assessment of Astana’s development, the quality of its urban infrastructure and the capital’s potential to foster an international technology community.

“In my view, this is the next Dubai, the next Singapore,” he emphasised.

Network School brings together educational programmes, the development of professional communities, the creation of technology companies and support for the placement of professionals in the international labour market.

Plans to establish a new university in Kazakhstan

One area of cooperation will focus on education and the development of a skilled workforce. In partnership with Kazakhstan’s Ministry of Science and Higher Education, Network School plans to establish an academic institution initially focused on online learning.

Over time, the initiative may evolve into a fully-fledged university authorised to award academic degrees.

The proposed educational model provides for self-paced learning based on students’ demonstrated knowledge and skills. Students will validate their qualifications through rigorous in-person examinations.

The model will also incorporate lifelong learning and the use of blockchain technology to verify the authenticity of educational credentials.

According to Balaji Srinivasan, cooperation with Kazakhstan’s domestic companies will help align educational programmes with subsequent employment opportunities for graduates.

The Network School founder summarised this approach as “pass the exam, get the job”.

Kazakhstan seeks to attract tens of thousands of IT professionals

Another objective of Network School is to attract international technology professionals and entrepreneurs. At the same time, the initiative aims to expand employment opportunities for Kazakhstani citizens at foreign companies.

Balaji Srinivasan stated that the project intends to gradually establish a large international professional community in Kazakhstan.

“We want to bring thousands of talented people to Kazakhstan initially, followed by tens of thousands. At the same time, of course, we will help Kazakhstani citizens secure jobs in the global market,” he said.

The Network School founder also highlighted an emerging trend in the technology industry involving companies and their teams relocating across national borders.

In his view, Kazakhstan could become an attractive destination for entrepreneurs seeking an enabling environment for long-term business development and the launch of international ventures.

The Ministry of Artificial Intelligence and Digital Development considers the establishment of Network School’s headquarters in Kazakhstan to be consistent with the country’s plans to develop into a regional artificial intelligence hub.

“The development of Network School in Kazakhstan aligns with the objective of positioning the country as Eurasia’s AI hub. The presence of an international initiative with an announced valuation of $2 billion creates opportunities to attract capital and expertise, generate skilled jobs and launch companies operating from Kazakhstan in global markets,” the Ministry’s statement reads.