Equal AI Raises $30M Series B for AI Assistant Expansion

Equal AI, a startup specializing in call management and identity verification, has successfully raised $30 million in its Series B funding round. The round was co-led by existing investors Prosus Ventures and Tomales Bay Capital, with participation from other notable investors including Think Investments, Valiant Fund, and several prominent figures from the tech and investment communities.

The newly acquired capital will be strategically deployed to broaden Equal AI’s product portfolio, extending its AI assistant capabilities beyond call management to encompass use cases in shopping, financial services, communications, and lifestyle sectors. The company aims to establish itself as a leading AI assistant provider in India, developing a unified intelligent layer for smartphone deployment.

Founded in 2022 by Keshav Reddy and Rajeev Ranjan, Equal AI initially focused on B2B identity verification, streamlining Know Your Customer (KYC) processes for businesses. In October 2025, the company pivoted to the consumer AI space by launching an AI call assistant designed to manage spam calls. This AI agent handles unknown calls, interacts with callers using conversational AI, identifies the call’s purpose, and provides users with transcripts, summaries, and recordings.

Equal AI serves over 350 enterprise clients across various sectors, including banking, lending, insurance, and telecommunications. On the consumer side, the startup reports significant traction with over one million monthly active users and 350,000 daily active users across India.

This funding round follows a previous $10 million Series A round, which was also led by Prosus Ventures. The investment underscores the growing investor interest in voice AI and consumer-facing AI agents, a market segment experiencing global growth as AI becomes integral to communication, commerce, and daily digital tasks.

The burgeoning Indian AI market is projected to reach $126 billion by 2030, with AI expected to contribute significantly to the country’s GDP. Equal AI’s expansion aligns with this trend, positioning it to capitalize on the increasing adoption of AI technologies for everyday applications.