Jio To Acquires 25 Percent Stake In Deep-Tech Startup Two Platforms For $15 mn

Mumbai: Reliance Jio on Friday announced to invest US$ 15 million in Two Platforms Inc. ("TWO"), a Silicon Valley based deep tech startup for acquiring 25 per cent equity stake on a fully diluted basis.

Founded by former Samsung Technology and Advanced Research president and CEO Pranav Mistry, Two Platforms is an artificial reality company with focus on building interactive and immersional AI experiences.

"We are impressed with the strong experience and capabilities of the founding team at TWO in the areas of AI/ ML, AR, metaverse and Web 3.0. We look forward to working together with TWO to help expedite development of new products in the areas of interactive AI, immersive gaming and metaverse," said Akash Ambani, Director of Jio.

TWO's Artificial Reality platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming.

It also plans to bring its interactive AI technologies first to consumer applications followed by entertainment and gaming, as well as enterprise solutions including retail, services, education, health and wellness.

According to an official statement, the founding team at TWO has several years of leadership experience in research, design and operations with leading global technology companies.

TWO will work collaboratively with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities.

"Jio is foundational to India's digital transformation. We at TWO are excited to partner with Jio to push the boundaries of AI and introduce applications of Artificial Reality to consumers and businesses at scale," said Pranav Mistry, CEO of TWO.

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