JIO invested $15 mn in Two Platforms Inc.

The telecom branch of Reliance Industries Limited -Jio Platforms made an investment of $15 million, in Silicon Valley-based startup Two Platforms Inc.Two Platforms Inc. is a technology-focused startup that is founded by Pranav Mistry. Jio Ltd. led by India’s Mukesh Ambani, acquired 25% of equity for $15 million. Two Platforms Inc. is an Artificial Reality-based tech- startup which focuses on making the artificial intelligence experience more immersive and interactive. The director of Jio Platforms Ltd., Akash Ambani, is quite impressed by the potential and collaboration of his firm with Two Platforms Ltd. He stated, “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”.Both the companies aim to develop new technologies such as AR, AI, Metaverse, Web3, etc. White & Case acted as legal counsel for Jio for the transaction.