Equal AI Secures $30 Million in Funding for Consumer AI Expansion

Equal AI, a consumer AI startup, has successfully raised $30 million in a Series B funding round spearheaded by Prosus Ventures and Tomales Bay Capital. Notably, these investors co-led the company’s $10 million Series A funding in November 2024. This recent funding round also enjoyed contributions 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.

Previously, in November 2024, Equal AI had attracted $10 million in a Series A funding, with Prosus Ventures and Tomales Bay Capital once again at the helm. The new funds will be directed towards enhancing Equal AI’s consumer offerings as well as bolstering its AI assistant capabilities in various sectors, including communications, financial services, lifestyle, shopping, and concierge services.

Founding and Growth of Equal AI

Established in 2022 by Keshav Reddy, who has a background as a venture capitalist supporting startups like Cred, Upstox, Hive, Genies, and Chipper Cash, Equal AI was initially designed as a consent-based data-sharing and identity infrastructure platform catering to enterprises in banking, lending, insurance, telecom, and digital services. The company ventured into the consumer AI domain in October 2025 with the unveiling of its AI-powered call assistant.

Performance and User Base

The Hyderabad-based startup reports that it has surpassed 1 million monthly active users and 350,000 daily active users just eight months post-launch. The platform’s features assist users in identifying callers, blocking spam calls, understanding caller intent, and performing various tasks on their behalf.

Equal AI also asserts that its enterprise division supports more than 350 clients and manages over 1 billion transactions every year through its identity and data-sharing framework. With this latest round of funding, the company is poised to expand its footprint in the consumer AI sector, aiming to construct a more comprehensive AI assistant platform for smartphone users in India. This investment reflects the increasing interest from investors in AI-driven consumer applications in India, especially concerning voice-based solutions tailored for local environments.