Jio's metaverse bet: Invests $15 Mn in DeepTech startup TWO Platforms

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.

Jio announced an investment of $15 million in Deeptech startup, Two Platforms Inc for a 25% equity stake on a fully diluted basis. The Silicon Valley-based DeepTech startup, founded by Pranav Mistry, is an artificial reality company building interactive AI experiences. "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," the company release stated.

Speaking on the investment, Akash Ambani, Director of Jio, said, “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’s Artificial Reality platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming. 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.

Pranav Mistry, CEO of TWO, 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.”