Jio Platforms Ltd. has announced a US$ 15 million investment in Two Platforms Inc., a Silicon Valley-based deep tech business established by Pranav Mistry, for a 25% fully diluted ownership share.
Akash Ambani, Director, Jio, said, “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 the development of new products in the areas of interactive AI, immersive gaming and metaverse,” he said.
Real-time AI voice and video chats, artificial persons, immersive places, and lifelike games are all possible with TWO’s Artificial Reality platform. TWO intends to use its interactive AI technology in consumer applications first, followed by entertainment and gaming, as well as enterprise solutions such as retail, services, education, and health and wellness.
TWO’s CEO, Pranav Mistry, reacted to the transaction by saying, “India’s digital development relies heavily on Jio. TWO is pleased to work with Jio to push the frontiers of AI and provide Artificial Reality applications to consumers and companies at scale.”