Equal AI Raises $30 Mn Led by Prosus Ventures, Tomales Bay Capital to Scale AI Call Assistant

Hyderabad-based consumer AI startup Equal AI has raised $30 Mn in a Series B funding round co-led by Prosus Ventures and Tomales Bay Capital, as investors continue to back AI-native consumer applications in India.

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 latest investment follows Equal AI's $10 million Series A funding round in November 2024, which was also led by Prosus Ventures and Tomales Bay Capital.

Founded in 2022 by Keshav Reddy, Equal initially focused on consent-based data-sharing and identity infrastructure for enterprises across banking, lending, insurance, telecom, and digital services. The Hyderabad-based startup entered the consumer AI segment in October 2025 with the launch of its AI-powered call assistant.

According to the company, the platform has surpassed 1 million monthly active users and 350,000 daily active users within eight months of launch. Its AI assistant helps users identify callers, block spam calls, understand caller intent, and perform actions on their behalf.

Equal AI said the fresh capital will be used to expand its consumer offerings and strengthen its AI assistant capabilities across communications, financial services, shopping, lifestyle, and concierge services.

Alongside its consumer business, the company continues to operate its enterprise infrastructure platform, which it claims serves more than 350 customers and processes over 1 billion transactions annually.