Mumbai: Mukesh Ambani-led Jio Platforms on Friday announced an investment of $15 million in Two Platforms Inc., for a 25 per cent equity stake on a fully diluted basis, according to news release.
Two is a US-based Silicon Valley’s deep tech start-up founded by Pranav Mistry in July 2021.
Two Platforms is an artificial reality firm, with focus on building interactive and immersional artificial intelligence (AI) experiences. After text and voice, Two 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. Two Platforms 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.
The founding team at Two has several years of leadership experience in research, design, and operations with leading global technology companies.
The tech start-up will work collaboratively with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities.
Speaking on the investment, Akash Ambani, director of 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 Platforms to help expedite development of new products in the areas of interactive AI, immersive gaming and metaverse.”
Pranav Mistry, CEO of Two Platforms, said, “Jio is foundational to India’s digital transformation. We at Two are excited to partner Jio to push the boundaries of AI and introduce applications of artificial reality to consumers and businesses at scale.”
White & Case acted as legal counsel for Jio for the transaction.