Other Private Equity/Strategic Investments
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.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
