Equal AI raises $30 mn to expand AI-powered assistant platform in India

The Series B round, co-led by Prosus Ventures and Tomales Bay Capital, will support the expansion of Equal AI's voice-based assistant and lifestyle services

Equal AI has raised $30 million in a Series B funding round co-led by Prosus Ventures and Tomales Bay Capital, as the startup looks to expand its AI-powered call assistant platform in India. The investors also co-led the company's $10 million Series A round in 2024.

 

The funding round included participation from Think Investments, Valiant Fund, PhonePe founder Sameer Nigam, Airtel family office executive Zubin Bharti Mittal, Skyflow co-founder Anshu Sharma, Meta India and South-east Asia Vice President Sandhya Devanathan, and CtrlS Datacenters Chairman Sridhar Pinnapureddy.

 

Equal AI now has more than 1 million monthly active users and has crossed 350,000 daily active users across India, making it one of the largest consumer AI voice products built in the country.

 

“When we raised our Series A, we were a young company with a simple conviction: that secure, consent-driven data sharing can unlock new opportunities for every Indian,” said Keshav Reddy, founder, Equal. “The decision of Prosus Ventures and Tomales Bay to deepen this partnership is both a vote of confidence and a responsibility, and we intend to keep earning it. We are building Equal for the long term, and for every Indian.”

 

The Call AI Assistant product helps users block spam, understand caller intent, take actions on the user's behalf, and complete end-to-end tasks. In just a few months, more than a million Indians have made it part of their lives, using it to screen spam calls, understand who is on the other end of the line, and reclaim hours of their week. The firm is now extending its features beyond calls into concierge, shopping, financial services, communications and lifestyle services.

 

Thiago Viana, global co-head, Prosus Ventures, said: “We are very excited to deepen our investment in Keshav and Equal AI, which will accelerate to become India's AI assistant and an AI lifestyle concierge for 100 million Indians.”

 

Iqbaljit Kahlon, founder and managing partner, Tomales Bay Capital, said: “When Keshav showed us what Equal AI was doing with call intelligence, the spam blocking, the intent understanding, and the action-taking on behalf of the user, we recognised something we have seen only a handful of times in fifteen years of investing: a product that people actually change their behaviour around.”