New Delhi: Reliance Industries Ltd’s technology arm, Jio Platforms, announced Friday a $15 million investment in Two Platforms — “TWO”. Jio will acquire a 25 percent equity stake on a fully diluted basis in the start-up. TWO is a Silicon Valley-based tech start-up founded by Pranav Mistry.
TWO – an artificial reality (AR) company – said it believes the next chapter of artificial intelligence (AI) will be visual and interactive.
The AR platform enables real-time AI voice and video calls, digital people, immersive spaces and lifelike gaming, it added.
TWO also stated that it plans to bring its interactive AI technologies to consumer applications, followed by entertainment, gaming and business solutions, including retail, services, education, health and wellness.
“We would partner with Jio to accelerate the adoption of new technologies and build disruptive technologies such as AI, metaverse and mixed realities, the start-up mentioned further.
Akash Ambani, director of Jio, said: “We are impressed with the strong experience and capabilities of TWO’s founding team in AI/ML, AR, metaverse and Web 3.0. We look forward to working together with TWO to help accelerate the development of new products in interactive AI, immersive gaming and metaverse.”
Pranav Mistry, Chief Executive of TWO, said: “Jio is fundamental to India’s digital transformation. We at TWO are excited to partner with Jio to push the boundaries of AI and develop applications of artificial reality at scale. consumers and businesses.”