RIL promoter Mukesh Ambani-led Jio Platforms has picked up a 25% stake in US-based deep-tech startup company TWO Platforms for $15 million.
Founded by Indian-origin computer scientist Pranav Mistry in July last year, TWO Platforms is an artificial reality company that focuses on building interactive and immersional AI experiences.
Its platform enables real-time AI voice and video calls, digital humans, immersive spaces and life-like gaming.
"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," Jio Platforms Director Akash Ambani said in a statement.
TWO Platforms aims 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.
Jio Platforms, set up as a technology arm of Mumbai-based Reliance Industries Ltd in 2019, is the holding company of the telecom company Reliance Jio and the conglomerate's digital businesses.
Jio Platforms said that the two companies have joined hands to expedite the adoption of new technologies and build disruptive technologies such as AI, metaverse and mixed realties.