Jio invests $15 million to buy 25% stake in US-based AI start-up TWO

Jio Platforms just announced an investment of US$ 15 million in Two Platforms Inc. (TWO), a Silicon Valley based deep tech startup
founded by Pranav Mistry, for a 25% equity stake on a fully diluted basis.

TWO is an Artificial Reality company with focus on building interactive and immersional AI experiences. TWO’s Artificial Reality platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming.

The company 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.

Jio said that it will work with TWO 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 to help expedite development of new products in the areas of interactive AI, immersive gaming and metaverse.

Pranav Mistry, CEO of TWO, 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.

Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram