Reliance Industries has confirmed the latest investment in Jio Platforms. During the Reliance AGM 2020 keynote, the company confirmed that search giant Google will invest Rs 33,737 crore in Jio Platforms, for a 7.7 percent stake. In the keynote, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, confirmed the investment. This makes Google the latest global tech giant to invest in Jio Platforms. Google joins Facebook, Qualcomm and Intel as well as six investment firms and three sovereign funds. That means Jio Platforms has taken in investment from 14 investors over the past few weeks and means it has raised Rs 1,52,056 crore.
A few days ago, Jio Platforms announced the investment by Qualcomm Technologies, worth Rs 730 crore for a 0.15 percent stake in the company. Google’s investment joins Qualcomm, Facebook, Silver Lake, Vista Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L. Catterton, PIF and Intel Capital. Reliance Industries is confident that the investment by global tech giants will give it a technological advantage for its Digital India vision for 1.3 billion Indians. Jio is working on solutions that are powered by leading technologies, such as Broadband, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence, Internet of Things, Augmented and Mixed Reality and Blockchain.