Reliance’s Jio Platforms Deep Tech Startup Invests in Two Platforms, Bets on Metaverse | Techno Glob

Reliance Industries’ technology arm, Jio Platforms, marked its first investment in the metaverse by acquiring a 25% stake in Silicon Valley-based deep tech startup Two Platforms for $15 million, according to an announcement on Friday.

“We were impressed by the founding team’s strong experience and capabilities in both AI/ML (Artificial Intelligence/Machine Learning), AR (Artificial Reality), Metaverse and Web 3.0. We look forward to working with Two to help accelerate the development of new products in the areas of interactive AI, immersive gaming and the metaverse,” Jio CEO Akash Ambani said in a statement.

Two Platforms is an augmented reality company founded last July by India-born scientist Pranav Mistry. The company focuses on interactive and immersive AI experiences. After text and voice, the next chapter of AI is visual and interactive.

Two’s Artificial Reality platform features real-time AI voice and video calls, digital humans, immersive spaces and realistic games. The company plans to bring its interactive AI technologies to consumer applications first, followed by entertainment and gaming, as well as enterprise solutions such as retail, services, education, health and wellness.

“Jio is at the heart of India’s digital transformation. We at Two are excited to partner with Jio to push the boundaries of AI and empower consumers and businesses with Augmented Reality applications,” said Pranav, CEO, Two.

Jio Platforms is a subsidiary of Reliance Industries and the holding company for the telecom and digital business group, whose unit Jio Infocomm is currently India’s largest telecom operator, with over 428 million subscribers as of November last year. (Disclosure: Reliance Industries owns Network18, publisher of Forbes India.)

Reliance, led by India’s richest man Mukesh Ambani, who had a net worth of $92.7 billion last year, predicted that its digital business would gain increasing importance following the transformation of the digital society.

“Everything in the physical world, almost everything in the human world can now be digitized, digitally enabled, digitally enriched and digitally transformed,” Ambani said at the Infinity Forum last December.

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