Akash Ambani says Jio-TWO to expedite development of interactive AI, immersive gaming and metaverse
Jio Platforms Limited is investing US$15 million in Two Platforms Inc., a Pranav Mistry-founded Silicon Valley-based deep tech Artificial Reality startup focused on building interactive and immersional AI experiences.
Jio is taking a 25% equity stake on a fully diluted basis in the platform which believes in the next chapter of AI is visual and interactive after text and voice.
TWO’s Artificial Reality platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming, Jio said on 4 Feb 2022.
TWO 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.
The founding team at TWO has several years of leadership experience in research, design and operations with leading global technology companies.
TWO will work collaboratively with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities.
Speaking on the investment, Jio Director Akash Ambani elaborated, “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.”
TWO CEO Pranav Mistry 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.”
White & Case acted as legal counsel for Jio for the transaction.
Jio, a majority-owned subsidiary of Reliance Industries Limited, has built a world-class all-IP data strong future proof network with latest 4G LTE technology (through its wholly owned subsidiary, Reliance Jio Infocomm Limited). It is the only network conceived and born as a Mobile Video Network from the ground up and supporting Voice over LTE technology. It is future ready and can be easily upgraded to support even more data, as technologies advance on to 5G, 6G and beyond. fiinews.com
