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02 Feb 2022
Jio Platforms to Invest $15 Million for 25% Stake in Pranav Mistry’s AI Start-up TWO

Pranav Mistry

 TWO Platforms Inc

Jio Platforms Ltd, a digital services company under the Ambani Group, will be investing US$15 million in Two Platforms Inc, a Silicon Valley based deep-tech startup founded by Pranav Mistry. The investment will give Jio a 25% equity stake on a fully diluted basis in Two.

Mistry, whose Sixth Sense technology developed over a decade ago while a researcher at MIT, won him international acclaim, recently set up Two Platforms Inc to focus on building interactive and immersive AI experiences. Its platform enables real-time AI voice and video calls, digital humans, immersive spaces and lifelike gaming.

“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 in a press release. 

Two Platforms Inc will work with Jio to fast-track the adoption of new technologies and build disruptive technologies such as AI, metaverse, and mixed realities, the companies announced. Speaking on the investment, Pranav Mistry said, “Jio is foundational to India’s digital transformation. We at TWO are excited to partner with Jio to push the boundaries of AI and introduce applications of Artificial Reality to consumers and businesses at scale.” 

TWO 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.

Originally from Palanpur, Mistry who is an alumnus of Vidyamandir Trust, started this new venture after completing a 9-year stint with Samsung, where he was CEO and President of Samsung Star Labs. He led innovation for Samsung Mobile Division and as the head of Think Tank Team, led R&D for Samsung’s several innovating products including Samsung Gear, Galaxy Watch, Gear 360 and project NEON.

At the end of 2021, Mistry, on Twitter, described the year gone by as one of “blessings and new beginnings”. It marked a period of “starting on a new adventure with TWO and laying the foundation of our non-profit charity, MistryLand.” He added, “(we) have pledged USD 2 million to charity via MistryLand this year” and promised “TWO is growing and ready to grow 5 folds with two more global offices in 2022”.

The latter project is described as “a small NGO with the mission to support and fund activities that preserve nature and culture... It is our humble attempt to be part of the great work and projects across the globe, especially focusing on conservation of natural resources and bringing the power of science and technology to the grassroots.”


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