Jio Platforms invests $15m in AR company TWO
The companies will work collaboratively for fast adoption of new technologies.
Reliance Industries subsidiary Jio Platforms Limited invested $15m in artificial reality (AR) company Two Platforms Inc. (TWO) for a 25% equity stake on a fully diluted basis.
In a statement, Jio said TWO, a Silicon Valley-based deep tech startup, will collaborate with Jio “to fast track adoption of new technologies and build disruptive technologies such as [artificial intelligence] AI, metaverse, and mixed realities.”
The AR company focusses on building interactive and immersive AI experiences, with an AR platform which enables “real-time AI voice and video calls, digital humans, immersive spaces, and lifelike gaming.”
“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,” Jio Director Akash Ambani 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,” TWO CEO Pranav Mistry said.