Jio Platforms acquires stake in artificial reality company Two Platforms
Reliance Industries said that its majority-owned subsidiary Jio Platforms has acquired a stake of 25% in Two Platforms Inc., a deep tech startup based in the Silicon Valley, for a sum of $15 million.
Founded by Pranav Mistry in July 2021, Two Platforms is an artificial reality company, which is engaged in developing interactive and immersional artificial intelligence (AI) experiences.
Two Platforms has built an artificial reality platform that facilitates real-time AI voice and video calls, immersive spaces, digital humans, and lifelike gaming. The company aims to bring its interactive AI technologies initially to consumer applications and later on to entertainment and gaming.
Subsequently, the deep tech startup intends to offer enterprise solutions such as retail, education, services, health and wellness.
Jio Platforms to acquire 25% stake in artificial reality company Two Platforms for $15m. Photo courtesy of Nairspecht/Wikipedia.org.
Pranav Mistry — CEO of Two Platforms said: “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.”
According to Reliance Industries, Two Platforms will work together with Jio Platforms to expedite the adoption of new technologies and develop disruptive technologies like AI, mixed realities, and the metaverse.
Akash Ambani — Director of Jio Platforms 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 development of new products in the areas of interactive AI, immersive gaming and metaverse.”