Equal AI Raises US$30 Million in Series B Funding to Build India’s Everyday AI Assistant
Prosus Ventures, Tomales Bay Capital co-lead round as startup crosses 1 million monthly active users
Keshav Reddy, Founder of Equal, said the company's journey from identity infrastructure to consumer AI reflects its long-term vision of empowering Indians through trusted technology.
Hyderabad: Equal AI, India’s first AI Call Assistant platform, has secured US$30 million in Series B funding in a round co-led by Prosus Ventures and Tomales Bay Capital, strengthening its ambitions to become India’s AI Assistant for everyday needs.
The funding round also saw participation from Valiant VC, Think Investments, Zubin Bharti Mittal, Sameer Nigam, Anshu Sharma, Sandhya Devanathan and Sridhar Pinnapureddy, reflecting growing investor confidence in India’s emerging consumer AI ecosystem.
The latest investment comes less than eight months after the company launched its AI Call Assistant product in October 2025. Equal AI has since emerged as one of India’s fastest-growing consumer AI platforms, surpassing 1 million monthly active users and 350,000 daily active users.
The company plans to use the fresh capital to strengthen its AI Call Assistant capabilities while expanding into communications, financial services, shopping, lifestyle and concierge services.
Founded initially as a data-sharing and identity infrastructure company, Equal has built a significant enterprise footprint, serving more than 350 customers across banking, lending, insurance, telecom and digital platforms. The company processes over one billion transactions annually and supports access to more than 50 identity databases and 4,000 API providers.
Equal AI’s flagship product helps users identify caller intent, block spam calls, manage communications and perform tasks on behalf of users. The company says the platform is witnessing a fundamental behavioural shift as consumers increasingly trust AI to handle routine communications.
“Equal AI is on its way to becoming India’s AI Assistant — a single, intelligent layer that sits on every Indian’s phone and works for them,” the company said, noting that users are increasingly relying on the service to screen spam calls, understand callers and reclaim productive time.
Thiago Viana, Global Co-Head of Prosus Ventures, said Equal AI represents a category-defining opportunity in voice AI.
“Equal has consistently been ahead of the curve. Equal AI is a category-defining bet on what voice AI can do for everyday Indians. We are excited to deepen our investment in Keshav and Equal AI as it accelerates towards becoming an AI lifestyle concierge for 100 million Indians,” he said.
Iqbaljit Kahlon, Founder and Managing Partner of Tomales Bay Capital, said the next generation of transformative consumer AI products would emerge from markets where voice is the primary mode of digital interaction.
“Equal is building for that reality. When we saw what Equal AI was doing with call intelligence, spam blocking, intent understanding and action-taking on behalf of users, we recognised a product that changes user behaviour. Equal is not building a feature; it is building the layer through which hundreds of millions of Indians will interact with their digital lives,” he said.
Keshav Reddy, Founder of Equal, said the company’s journey from identity infrastructure to consumer AI reflects its long-term vision of empowering Indians through trusted technology.
“When we raised our Series A, we were a young company with a simple conviction that secure, consent-driven data sharing can unlock new opportunities for every Indian. Today, that same conviction has produced two engines: Equal AI, which more than a million Indians are already using every month, and an enterprise platform that has become infrastructure for India’s largest banks, insurers, fintechs and digital platforms,” he said.
Reddy added that the continued support from existing investors validates the company’s mission and reinforces its commitment to building products for long-term impact.
Industry observers view the funding as a significant milestone for India’s consumer AI sector. Unlike many AI applications focused on enterprise use cases, Equal AI is building a mass-market voice-first platform tailored to Indian users, potentially positioning itself at the centre of daily digital interactions for millions of smartphone users.
About Equal
Founded in 2022, Equal began as a data-sharing and identity infrastructure company before expanding into consumer AI in 2025. The company now serves more than 350 enterprise customers and has built one of India’s largest AI-powered voice assistant platforms, with over 1 million monthly active users and 350,000 daily active users.
About Prosus Ventures
Prosus Ventures is the investment arm of Prosus, a global technology investor focused on AI, ecommerce, fintech and digital platforms across multiple markets worldwide.
About Tomales Bay Capital
Tomales Bay Capital is a San Francisco-based investment firm managing over US$10 billion in assets and investing across artificial intelligence, frontier technologies and high-growth technology companies globally.
