Jio Platforms, led by RIL promoter Mukesh Ambani, has purchased a 25% stake in TWO Platforms, a deep-tech startup based in the United States, for $15 million.
TWO Platforms is an artificial reality company that focuses on building interactive and immersive AI experiences. It was founded by Indian-origin computer scientist Pranav Mistry in July of last year.
Its platform enables AI voice and video calls in real time, as well as digital humans, immersive environments, and life-like gaming.
“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,” Jio Platforms Director Akash Ambani said in a statement.
TWO Platforms wants to use its interactive AI technologies in consumer applications first, then entertainment and gaming, as well as enterprise solutions like retail, services, education, and health and wellness.
Jio Platforms, founded in 2019 as a technology arm of Mumbai-based Reliance Industries Ltd, is the holding company for Reliance Jio, the telecom company, and the conglomerate’s digital businesses.
The two companies have partnered to accelerate the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities, according to Jio Platforms.
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