Jio Platforms takes stake in AI start-up

Jio Platforms invested $15 million to take a 25 per cent stake in US-based technology start-up Two Platforms, plotting joint development of products featuring technologies including AI, AR and mixed reality.

Akash Ambani, director of Jio Platforms, stated it is impressed with Two Platforms founding team’s experience and capabilities in the three fields, along with metaverse and Web 3.0.

Two Platforms CEO Pranav Mistry said the partnership will involve introducing AR applications for consumers and businesses.

The start-up builds interactive and immersive AI experiences and believes the next chapter of the technology will be visual and interactive.

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It claims its AR platform enables real-time AI voice and video calls, immersive spaces and life-like gaming.

The company plans to first bring interactive AI technologies to consumer applications, entertainment and gaming, then focus on the enterprise segment including retail, health and wellness, and education.

Jio Platforms is the digital arm of Reliance Industries, owner of mobile operator Reliance Jio.