Posted by Mumbai: Jio Platforms Limited (Jio) has announced a $15 million investment in Two Platforms Inc – a deep tech startup.
With this $15 million investment, Jio has picked a 25% equity stake in this Silicon Valley-based startup founded by Pranav Mistry.
Two Platforms – an artificial reality tech startup is focused on building interactive and immersional AI experiences. After text and voice, the tech startup believes the next chapter of AI is visual and interactive.
Two’s artificial reality platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming. It plans to bring its interactive AI technologies first to consumer applications followed by entertainment and gaming. Along with enterprise solutions for retail, services, education, health and wellness.
The tech startup‘s founding team has several years of leadership experience in research, design and operations with leading global technology companies.
The deep tech startup will work collaboratively with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities.
“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,” said Akash Ambani, Director – Jio.
“We look forward to working together with TWO to help expedite the development of new products in the areas of interactive AI, immersive gaming and metaverse,” added Ambani.
“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 – Two Platforms.
White & Case acted as legal counsel for Jio for the transaction.