Jio announces investment of USD 15 million in Pranav Mistry's Two Platforms Inc for 25% stake

Jio Platforms Limited (Jio) today announced that it has invested USD 15 million in Two Platforms India for a 25 per cent equity stake on a fully diluted basis. Two, a Silicon Valley Based Start-Up founded by Pranav Mistry is developing the next generation of interactive AI experiences.

TWO, founded in July 2021, is an Artificial Reality company with a focus on building interactive and immersional AI experiences. TWO is headquartered in Silicon Valley, After text and voice, TWO believes the next chapter of AI is visual and interactive. 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.

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.

"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 the development of new products in the areas of interactive AI, immersive gaming and metaverse," said, Akash Ambani, Director of Jio.

"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," Pranav Mistry, CEO of TWO.

White & Case acted as legal counsel for Jio for the transaction.