New Delhi, June 12 -- Equal AI, an artificial intelligence-driven call assistant platform, has raised $30 million (around Rs 286 crore) in a Series B funding round to scale its technological infrastructure and expand its consumer digital services footprint.

The financing round was co-led by global technology investor Prosus Ventures and San Francisco-based investment firm Tomales Bay Capital. Both entities had previously co-led the company's $10 million Series A round in November 2024 alongside founder Keshav Reddy.

A syndicate of institutional and prominent angel investors participated in the transaction, including Think Investments, Valiant Fund, PhonePe founder Sameer Nigam, Airtel Family Office member Zubin Bharti Mittal, Skyflow AI co-founder Anshu Sharma, Meta India vice-president Sandhya Devanathan, and CtrlS Datacenters chairman Sridhar Pinnapureddy.

The fresh capital infusion was structured across multiple tranches.

Consumer AI expansion, metrics

Founded in 2022 by Reddy, a third-generation entrepreneur from the GVK conglomerate family and an alumnus of the Massachusetts Institute of Technology (MIT), Equal AI originally launched as an enterprise-focussed identity verification and consent-driven data-sharing infrastructure platform.

Its legacy corporate business continues to operate, providing Know-Your-Customer (KYC) and data verification infrastructure to over 350 business-to-business (B2B) clients, including banks, insurers, and fintech platforms. The enterprise layer processes more than 1 billion transactions annually.

In October 2025, the Hyderabad-headquartered company diversified into the consumer internet segment with the launch of an AI call assistant. The application addresses persistent telemarketing and spam call challenges in India by intercepting incoming calls, screening caller intent, and managing automated tasks on behalf of users.

Within eight months of its consumer launch, the voice assistant utility crossed 1 million monthly active users and 350,000 daily active users, the company said.

Equal AI will use the fresh capital to deepen its AI call assistant capabilities and expand into lifestyle concierge, financial services, communications, and digital shopping.

Growth capital, market landscape

The latest funding comes amid heightened capital allocation towards consumer AI utilities in mobile-first geographies, where voice interactions frequently outpace text-based queries.

While Equal AI declined to disclose its exact valuation milestone for the multi-tranche round, its total historical funding raised to date now stands at $40 million.

Before founding Equal AI, Reddy worked as an investor, executing early- and growth-stage technology bets across international markets, including bets on Indian consumer technology firms CRED and Upstox.

Published by HT Digital Content Services with permission from VC Circle.