Jio acquires 25% stake in US-based Two Platforms Inc for $15-M

Jio Platforms Ltd, part of Mumbai-based, publicly listed Reliance Industries Ltd, has invested USD 15 million in Two Platforms Inc, a Silicon Valley-based deep tech startup, for a 25% equity stake (on a fully diluted basis). White & Case acted as legal counsel for Jio for the transaction. Founded by Pranav Mistry, Two is an artificial reality company with a focus on building interactive and immersive AI experiences. The firm will work collaboratively with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities.