Equal AI secures US$ 30M Series B funding

Metro India News | Hyderabad 

Equal AI, India's First AI Call Assistant, has secured US$30 million in its Series-B round in tranches co-led by Prosus Ventures and Tomales Bay Capital. Both investors had previously co-led the Equal’s US$10 million Series A in November 2024, alongside founder Keshav Reddy. The capital infusion will support Equal AI’s growth roadmap as it advances its vision of becoming India’s AI Assistant for everyday needs, serving the country’s near billion smartphone users.

Equal AI has now over 1 million monthly active users and crossed 350,000 daily active users across India - making it one of the largest consumer AI voice products built in India, for India. 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. Thiago Viana, Global Co-Head, Prosus Ventures, said that Equal has consistently been ahead of the curve - first in reimagining identity and then data sharing in India, and is now building one of the country’s most ambitious consumer AI Assistants.

Iqbaljit Kahlon, Founder and Managing Partner, Tomales Bay Capital recalled that when Equal AI founder Keshav showed what the firm was doing with call intelligence, the spam blocking, the intent understanding, the action-taking on behalf of the user, he (Iqbaljit Kahlon) immediately recognized that something we have seen only a handful of times in fifteen years of investing: a product that people actually change their behavior around.

Keshav Reddy, Founder, Equal, mentioned that when Equal raised Series A, it was a young company with a simple conviction. But today, that same conviction has produced two engines: Equal AI, which more than a million Indians are already using every month to take back control of their phones, and an enterprise platform that has become infrastructure for India's largest banks, insurers, fintechs and digital platforms powering 101M users till date.

Equal's Series B marks a defining moment for the company and for consumer AI in India. For a product that launched less than eight months ago and has since crossed a million monthly active users, this raise is both a validation of early traction and a mandate to build bigger, toward Equal AI's defining ambition of becoming India's AI Assistant for everyday needs.