Answer

Not exactly.

In Jain understanding, the universe is made up of six eternal substances called Dravya.

They are:

• Jīva — soul / living substance
• Pudgala — matter
• Dharma Dravya — medium of motion
• Adharma Dravya — medium of rest
• Ākāśa — space
• Kāla — time

Explanation

Sometimes Jainism is explained in a simpler way as having two broad categories:

• Jīva — living beings / souls
• Ajīva — non-living substances

But Ajīva includes five substances: Pudgala, Dharma, Adharma, Ākāśa, and Kāla.

So the more complete Jain view is:

• 2 broad categories: Jīva and Ajīva
• 6 total Dravyas: one Jīva and five Ajīva substances

Takeaway

Jain Dharma does not say there are only two substances in the strict sense. It teaches six eternal Dravyas, grouped broadly into Jīva and Ajīva.