Mumbai: Reliance Jio Platforms, the digital arm of Reliance Industries, has raised $10 billion in a record-breaking funding round. The investment, led by Facebook (now Meta), Silver Lake, and Mubadala, values the company at $100 billion, making it India's most valuable startup.
The funds will be used to expand Jio's digital services including 5G infrastructure, cloud computing, and financial technology solutions. CEO Akash Ambani stated that "this investment will accelerate India's digital transformation and create millions of jobs."
Industry experts believe this move will strengthen Jio's position in the competitive digital services market and help India achieve its goal of becoming a $1 trillion digital economy by 2025.
The funding round also includes participation from KKR, Vista Equity Partners, and General Atlantic, highlighting global confidence in India's digital future.