Equal AI raises Series B funding co-led by Prosus Ventures, Tomales Bay Capital
12 Jun 2026, 06:27 PMThe round also saw participation from Valiant Fund, Think Investments, PhonePe founder Sameer Nigam, and Airtel family office member Zubin Bharti Mittal, among others.
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Equal AI has raised $30 million in a Series B funding round co-led by existing investors Prosus Ventures and Tomales Bay Capital.
The round also saw participation from Valiant Fund, Think Investments, PhonePe founder Sameer Nigam, Airtel family office member Zubin Bharti Mittal, Skyflow co-founder Anshu Sharma, Meta India and Southeast Asia Vice President Sandhya Devanathan, and CtrlS Datacenters Chairman Sridhar Pinnapureddy.
The Hyderabad-based startup will use the fresh capital to expand its consumer offerings and strengthen its AI assistant capabilities across communications, financial services, lifestyle, shopping, and concierge services. The company also plans to deepen its presence in the consumer AI market as it looks to build a broader AI assistant platform for Indian smartphone users.
Equal AI is a consumer AI startup that helps users identify callers, block spam calls, understand caller intent, and perform actions on their behalf. The platform has crossed 1 million monthly active users and 350,000 daily active users within eight months of its consumer launch. Its enterprise business serves more than 350 customers and processes over 1 billion transactions annually through its identity and data-sharing infrastructure.
The startup was founded in 2022 by Keshav Reddy, a former venture capitalist who has backed startups including Cred, Upstox, Hive, Genies, and Chipper Cash. Equal initially operated as a consent-based data-sharing and identity infrastructure platform before entering the consumer AI segment in October 2025 with the launch of its AI-powered call assistant.
Equal AI had previously raised $10 million in a Series A round co-led by Prosus Ventures and Tomales Bay Capital in November 2024.
The investment comes amid growing investor interest in AI-native consumer applications in India, particularly voice-based products tailored to local use cases.
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