Hyderabad-based consumer AI startup Equal AI has raised $30 million in a Series B funding round co-led by Prosus Ventures and Tomales Bay Capital, underscoring growing investor confidence in India’s emerging AI-native consumer applications market.
The latest round attracted participation from an impressive lineup of investors, including Valiant Fund, Think Investments, PhonePe founder Sameer Nigam, Zubin Bharti Mittal from the Airtel family office, Skyflow co-founder Anshu Sharma, Meta India and Southeast Asia Vice President Sandhya Devanathan, and CtrlS Datacenters Chairman Sridhar Pinnapureddy.
Notably, Prosus Ventures and Tomales Bay Capital had also co-led Equal AI’s $10 million Series A round in November 2024, reinforcing their long-term conviction in the startup’s vision.
The fresh infusion of capital will help Equal AI expand its consumer-focused offerings and enhance its AI assistant capabilities across multiple categories, including communications, financial services, shopping, lifestyle management, and concierge services.
Founded in 2022 by Keshav Reddy, a former venture capitalist known for backing successful startups such as Cred, Upstox, Hive, Genies, and Chipper Cash, Equal initially built its business around consent-based identity and data-sharing infrastructure for enterprises. Its solutions serve sectors including banking, insurance, lending, telecom, and digital services.
In October 2025, the company entered the consumer AI space with the launch of its AI-powered call assistant, a voice-first product designed specifically for Indian users.
The response from consumers has been remarkable. According to the company, Equal AI has surpassed 1 million monthly active users and 350,000 daily active users within just eight months of launch. The platform enables users to identify unknown callers, block spam calls, understand caller intent, and even complete tasks on their behalf.
Beyond its consumer ambitions, Equal AI continues to maintain a strong enterprise presence. The startup says it currently serves more than 350 enterprise customers and powers over 1 billion transactions annually through its identity and data-sharing infrastructure.
With this new funding, Equal AI aims to accelerate its expansion in India’s rapidly evolving consumer AI market and build a comprehensive AI assistant platform tailored for the country’s smartphone users.
The investment reflects a broader trend of increasing investor interest in voice-led, AI-native products built for Indian use cases, as startups race to redefine how millions of consumers interact with technology in their everyday lives.
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