Jio announces US$15 million investment in Two Platforms Inc:

Date:

Jio has made a huge contract. Giants Jio Platforms Limited (Jio) has declared an investment of US $ 15 million (about Rs 112 crore) in Silicon Valley-based deep tech startup Two Platforms Inc (TWO). This investment has prevailed brought about a 25 percent stake in Two Platforms Inc. This is occurring supposed a big deal for Jio. JIO

What is the plan of both the companies?

TWO is an artificial reality company with a priority on interactive and immersive AI experiences. Subsequently text and voice, TWO believes that the future of AI lies in the visual and interactive. TWO’s artificial reality platform creates real-time AI voice and video calls, digital humans, immersive space, and realistic gaming. TWO plans to take its interactive AI technologies to buyer applications first, obeyed by entertainment and gaming as well as enterprise solutions containing retail services, education, health, and wellness. Jio and Two will work jointly: TWO’s founding team has several years of leadership experience in research, design, and operations with leading global technology companies. Its founder is Pranav Mistry. TWO will work almost with Jio to build new technologies such as AI, Metaverse and, Mixed Reality. Talking about the investment, Akash Ambani, Director, Jio, said, “We at TWO are instilled by the powerful experience and capabilities of the founding team. We will work nearly with Two to assist stimulate the growth of new products in the areas of interactive AI, immersive gaming, and the metaverse. TWO CEO’s Pranav Mistry also conveyed prosperity over this deal and expressed his excitement to work closely with Jio. White & Case functioned as legal advisor to Jio for this agreement.

What does Ambani say on investment?

Speaking on the investment, Akash Ambani, Director, Jio said, “We at TWO are affected by the big experience and abilities of the founding team. We will work approximately with Two to help accelerate the development of new products in the areas of interact- ive AI, immersive gaming, and the metaverse. Two’s CEO said: Mistry may also have a chance on the deal as TWO goes on. The connection is acted as the legal chancellor for this transaction. Reliance Jio has declared an investment of US$15 million in Silicon Valley-based deep tech startup Two Platforms Inc. Jio has generated this investment to acquire a 25% stake in Two Platforms Inc. TWO’s founding team has many years of leadership experience in research, design, and operations with leading global technology companies. Its founder is Pranav Mistry. TWO will work closely with Jio to build new technologies such as AI, Metaverse, and Mixed Reality.

Future of AI, the visual and interactive world: Two (TWO) is an artificial reality company with a priority on interactive and immersive AI experiences. After text and voice, TWO believes that the future of AI lies in the visual and interactive world. Its artificial reality platform enables real-time AI voice and video calls, digital humans, immersive space, and lifelike gaming. TWO plans to take its interactive AI technologies to customer applications first, followed by entertainment and gaming as well as enterprise solutions including retail, services, education, health, and wellness.

Jio is the foundation of India’s digital transformation: TWO CEO Pranav Mistry

TWO will work closely with Jio to accelerate the adoption of new technologies and build technologies such as AI, Metaverse and Mixed Realities. On this, Pranav Mistry, CEO, TWO Platforms said, ‘Jio is the foundation of India’s digital transformation. We are excited to partner with Jio to push the boundaries of AI and introduce applications of artificial reality to consumers and businesses.’

The market cap of Reliance Industries is Rs 15,77,382.90 crore.

It is known that today the stock of Reliance Industries Limited closed at the level of 2331.80 with a fall of 20.90 points or 0.89 percent on the Bombay Stock Exchange (BSE). At present, the company’s market cap is Rs 15,77,382.90 crore. 

Let us tell you that Jio Platforms Limited, a subsidiary of Reliance Industries (RIL), operates India’s largest mobile network Jio and other digital businesses of RIL.

 

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