digital services company live Platforms on Friday announced an investment of $15 million to acquire a 25 percent stake in Silicon Valley-based tech startup Two Platforms. Two Platforms was founded by Pranav Mistry, former president of Samsung Technology and Advanced Research. This startup works in the field of artificial reality and makes products based on artificial intelligence technology. This is being considered as another big success of Jio platform. Jio is also taking a fast step forward regarding 5G.
Announcing this stake acquisition, Akash Ambani, Director, Jio Platforms, said in a statement, “We are deeply impressed by the capability and experience of the founding team of Two Platforms in the areas of artificial intelligence, machine learning, metaverse and web 3.0. We look forward to working closely with them in these areas.
Speaking on the occasion, Mistry, Founder, Two Platforms, said, “Excited to work with Jio as a key driver of India’s digital transformation. Together we will try to push the boundaries of artificial intelligence and take the application of artificial reality to the consumers.
Under this acquisition agreement, Two Platforms will work with Jio to embrace new technology and build transformative technologies such as artificial intelligence, metaverse and mixed realities.