Synopsis
The round also saw participation from Think Investments, Valiant Fund, PhonePe founder Sameer Nigam, and Zubin Bharti Mittal, among others. The lead investors had also co-led the company's $10 million Series A in November 2024, along with Reddy. The founder, son of GVK Group vice chairman Sanjay Reddy, has transitioned from managing physical assets to building digital platforms.Listen to this article in summarized format
The round also saw participation from Think Investments, Valiant Fund, PhonePe founder Sameer Nigam, and Zubin Bharti Mittal, among others.
The lead investors had also co-led the company's $10 million Series A in November 2024, along with Reddy.
The founder, son of GVK Group vice chairman Sanjay Reddy, has transitioned from managing physical assets to building digital platforms.
Launched in October 2025, Equal AI screens spam calls, identifies caller intent and takes actions on behalf of users. The company said it has over one million monthly active users and 350,000 daily active users.
The fresh funds will be used to deepen its call assistant capabilities and expand into adjacent areas, including communications, financial services, lifestyle, and concierge services. The company aims to become India's AI assistant for everyday needs across the country's near-billion smartphone users.
Equal AI itself was founded in 2022 as a data-sharing and identity infrastructure company, serving over 350 enterprise customers across the banking, insurance, and telecom sectors, before pivoting to consumer AI last year.
That enterprise business processes over one billion transactions annually, with a KYC success rate of 97%, across 50-plus identity databases and 4,000-plus API providers, the company said in a statement.
Prosus Ventures is the early-stage investment arm of Prosus, the global technology group. Tomales Bay Capital is a San Francisco-based firm managing over $10 billion in assets, with an AI-focussed portfolio that includes Hive AI and Osaro.
Equal AI is also planning to expand its product suite. The company aims to build a broader concierge layer that handles communications, shopping, and financial tasks on behalf of users, creating a single intelligent interface for everyday digital needs.
"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 Reddy in a statement. "Today, more than a million Indians are already using Equal AI every month to take back control of their phones. We are building Equal for the long term, and for every Indian."
In an interview with ET last October, Reddy had referred to the platform as “application AI”, where tools make routine tasks easier.
“Most AI today feels like a chatbot. You type, it replies,” he had said. “But people want something that listens, understands, and acts. The test is whether it can behave contextually, like a person would, especially in a country as diverse as India.”
