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Reliance Jio steps into metaverse with $15 million investment in Silicon Valley startup

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.

Published:Fri, February 04, 2022 7:25pm

By Danny Dcruze

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Jio has announced an investment of $15 million in ("TWO"), a deep tech startup. The telecom giant has invested the amount for a 25% equity stake. The new investment by Reliance Jio hints at the company's growing interest in the field of the metaverse, AI and mixed realtors.

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What is TWO Platforms?

TWO is an Artificial Reality company with a focus on building interactive and immersional AI experiences. The company believes that after text and voice, the next chapter of AI is visual and interactive. TWO has an Artificial Reality platform that enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming.

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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.

According to a joint statement released by Reliance Jio and TWO Platfroms, 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.

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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."

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."

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