June 25, 2022

metaverse: This is Reliance Jio’s first step into metaverse

This is Reliance Jios first step into metaverse

Reliance Jio has announced that it is investing $15 million (around 112 crores) Silicon Valley based deep tech startup, Two Platforms, for 25% equity stake. For those who do not know, Two is an artificial reality (AR) company founded by Pranav Mistry with the aim to build interactive artificial intelligence (AI) experiences. Before this, Pranav has also worked with smart gadgets such as Samsung Galaxy Gear and SixthSense. This investment can also be considered as Jio’s effort to enter the metaverse.

Two’s AR platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming. The company 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.

Last month, Mukesh Ambani, chairman and managing director of Reliance industries also mentioned that there will be tremendous value creation in the virtual world in the coming decade. “For example, people will begin to buy, sell, and use virtual real estate.” he said during Infinity Forum.

After the investment, Two will work with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities.

“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.” said Akash Ambani, director of Jio.

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