Jio picks up 25% stake in deep tech start-up Two Platforms for $15 million

Mukesh Ambani-led Jio Platforms on Friday announced that it has picked up a 25 per cent stake in Silicon Valley-based deep tech start-up Two Platforms (TWO) for $15 million around Rs 112 crore).

Founded by Pranav Mistry, Two Platforms is an artificial reality company which focuses on building interactive and immersive AI experiences.

The two companies have joined hands to fast track adoption of new technologies and build disruptive technologies such as AI, metaverse and mixed realties, Jio Platforms said, in a statement.

TWO’s platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming.  It 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.

"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," Akash Ambani, director, Jio said in a statement.

Calling Jio “foundational” to India’s digital “transformation,” Pranav Mistry, CEO of TWO, hoped of leaping forward in the field of AI and artificial reality.

“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.” Mistry added.