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Launched in October 2025, Equal AI has emerged as one of India’s fastest-growing consumer AI platforms, reaching over 1 million Monthly Active Users and 350,000 Daily Active Users
Series B round led by Prosus Ventures and Tomales Bay Capital with participation from Valiant VC, Think Investments, Zubin Mittal of Airtel, Sameer Nigam of PhonePe and a curated set of marquee strategic investors
Capital to scale Equal AI’s vision of becoming India’s AI Assistant for everyday needs deepening its AI Call Assistant capabilities while expanding into communications, financial services, lifestyle, and concierge services.
India, 12th June 2026: 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.
The round led by Prosus Ventures (the early stage investment arm of Prosus) and Tomales Bay Capital ($10B+ San Francisco-based global investment firm), Think Investments (a US$3 billion San Francisco-based investment firm), Valiant Fund (a US$3 billion global long/short equity fund), Sameer Nigam (PhonePe Founder), Zubin Bharti Mittal (Airtel Family Office), Anshu Sharma (Co-founder, Skyflow AI), Sandhya Devanathan (Vice President, Meta India and Southeast Asia), and Sridhar Pinnapureddy (Chairman, CtrlS Datacenters) reflecting strong conviction in Equal's AI vision to be India’s AI Assistant for everyday needs.
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. The call AI Assistant product is rapidly becoming a daily habit for Indians blocking spam, understanding caller intent, taking actions on the user's behalf, and doing end to end tasks. Equal AI is the first of its kind AI native product to be built at this scale in India and represents a fundamental behavioural shift - people are beginning to trust AI to handle their communication.
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. 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. We are now extending Equal AI well beyond calls — into concierge, shopping, financial services, communications and lifestyle — so that every Indian has an AI that is genuinely theirs.
Thiago Viana, Global Co-Head, Prosus Ventures, said: “Equal has consistently been ahead of the curve - first in reimagining identity and then data sharing in India, and now is building one of the country’s most ambitious consumer AI Assistants. Equal AI is a category-defining bet on what voice AI can do for everyday Indians. We are very excited to deepen our investment in Keshav and Equal AI who will accelerate to become India’s AI Assistant that will be an AI Lifestyle Concierge for 100M Indians.”
Iqbaljit Kahlon, Founder and Managing Partner, Tomales Bay Capital, said: “The geography of ambition has shifted. The most interesting consumer AI products of the next decade are not being built in San Francisco, they are being built for the billion people who carry a smartphone and whose relationship with technology is primarily voice, not text. Equal is building for that reality. When Keshav showed us what Equal AI was doing with call intelligence, the spam blocking, the intent understanding, 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. We co-led the Series A and we are deepening our commitment in this round because Equal is not building a feature. They are building the layer through which hundreds of millions of Indians will interact with their digital lives”
Mr. Keshav Reddy, Founder, Equal, said: "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. 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. Prosus Ventures and Tomales Bay have stood with us since day one. Their decision 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."
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.
For any more information or questions, please contact: publicrelations@equal.in
About Equal:
Founded in 2022 as a data-sharing and identity infrastructure company, Equal quickly emerged as one of India’s leading identity and consent-driven data-sharing platforms, serving over 350 enterprise customers across banking, lending, insurance, telecom and digital platforms, with access to 50+ identity databases and 4,000+ API providers, processing over 1 billion transactions annually with KYC success rates of 97%. With its enterprise business firmly in place, Equal diversified into a becoming a consumer AI company in October 2025 by creating India’s first AI call assistant to tackle India’s rising spam call problems. Since the launch, Equal AI has grown to over 1 million monthly active users and 350,000 daily active users, making it one of the most widely adopted AI Call Assistants built in India, for India.
Equal AI is working toward a larger ambition: to become India’s AI Assistant for everyday needs, expanding well beyond call management into communications, financial services, lifestyle, and concierge services. The company’s long-term vision is to build a trusted layer that simplifies digital interactions and helps users navigate an increasingly complex digital ecosystem.
Keshav Reddy is the founder of Equal. In the past, Keshav was a venture capitalist where he led investments in 30+ high-growth technology companies, of which five achieved Unicorn Status (Cred, Upstox, Hive, Genies & Chipper Cash). Keshav holds an MBA from the Massachusetts Institute of Technology (MIT) and a Bachelor of Science in Engineering from the University of Michigan-Ann Arbor.
Prosus is the power behind the world’s leading lifestyle ecommerce brands, across Europe, India, and Latin America, unlocking an AI-first world for our 2 billion customers. The Prosus technology ecosystem spans food delivery, payments, classifieds, travel, events, and mobility. Our integrated approach enhances user engagement and creates the foundation for unprecedented AI capabilities through proprietary data and cross-service intelligence.
Through Prosus Ventures, we invest in companies which inspire and support the Prosus ecosystem. We search for new opportunities at the leading edge of AI and ecommerce, the digital AI workforce, and in frontier technologies. The team actively backs exceptional entrepreneurs who are using technology to improve people’s everyday lives.
To find out more, please visit www.prosus.com.
Tomales Bay Capital is a San Francisco-based global investment firm founded and led by Iqbaljit Kahlon, managing over $10 billion in assets. The firm makes concentrated, highconviction investments at inflection points — the moments when a technology, a market, or a founder crosses a threshold that most capital has not yet learned to recognize. Tomales Bay Capital has been building and investing in artificial intelligence since its earliest commercial years. Its AI portfolio includes Hive AI, one of the foundational enterprise AI platforms globally; Osaro, an industrial AI robotics company founded by the investor who led the seed round of DeepMind at Founders Fund; and Equal AI, India's first consumer voice AI platform at scale — spanning enterprise AI infrastructure, physical-world automation, and consumer AI across the US and India. The firm invested in SpaceX across nearly a decade, beginning before the company achieved reusability — a bet on first-principles engineering at the moment when the outcome was genuinely uncertain. Please visit www.tomalesbaycapital.com
