Jio Platforms Ltd announced a $15-million investment in US-based deep tech startup Two Platforms on Friday.
It is an arm of oil-to-telecoms conglomerate RIL, it will be for a 25 percent equity stake on a fully diluted basis. Jio Platforms also built a 4G LTE telecom network through Reliance Jio Infocomm.
Two Platforms is headquartered in Silicon Valley. It was launched by Pranav Mistry in July 2021. The company focuses on “building interactive and immersional AI”, as per Jio.
Two Platforms will work in collaboration with Jio to fast-track the adoption of new technologies. It will also help build disruptive technologies like AI, metaverse, and mixed realities.
Besides, it plans to bring the interactive AI technologies to consumer applications and entertainment including gaming. It will expand the horizons covering other areas like retail, services, education, health and wellness among others.
“We are impressed with the strong experience and capabilities of the founding team at Two Platforms in the areas of AI/ ML, AR, metaverse and Web 3.0,” said Jio Director Akash Ambani.
“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,” he added further.
As per Two Platforms CEO Pranav Mistry, the company is excited to partner with Jio to further AI programmes.
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