Jio Platforms is the technology subsidiary of Reliance Industries.
New Delhi: Reliance Industries Limited’s technology arm Jio Platforms on Friday announced an investment of $15 million in Two Platforms – “TWO”. Jio will acquire 25 per cent equity stake in the start-up on a fully diluted basis. 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 in artificial intelligence (AI) is visual and interactive.
The AR platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming.
TWO also said it plans to bring its interactive AI technologies to consumer applications, followed by entertainment, gaming and enterprise solutions, which include retail, services, education, health and wellness.
“We will work closely with Jio to accelerate the adoption of new technologies and create disruptive technologies such as AI, metaverse and mixed realities, as the start-up further noted.
Akash Ambani, Director, Jio, said, “We are impressed by the strong experience and capabilities of the founding team in two in the areas of AI/ML, AR, Metaverse and Web 3.0. We look forward to working closely with the two to help Accelerate the development of new products in the areas of interactive AI, immersive gaming and the metaverse.”
TWO Chief Executive Pranav Mistry said, “Jio is the cornerstone of India’s digital transformation. We at TWO are looking forward to partner with Jio to push the boundaries of AI and introduce mass artificial reality applications to consumers and businesses. Excited for.”
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