Funding · AI & Deep Tech

Equal AI raised $30M to expand AI call assistant and new services

By Startup Enthusiast · 12 June 2026

Date: 12 June 2026
Company: Equal AI
What it does: AI call assistant for spam screening
Kind: Funding
Amount: $30M
Stage: Series B
Founded: 2022
Sector: AI & Deep Tech

What they do

Equal AI is an Indian startup that screens phone calls using AI to help users manage spam and other unwanted calls

What happened

The company raised $30 million in a Series B funding round co-led by Prosus Ventures and Tomales Bay Capital, with participation from other investors…

Why it matters

The funding will be used to expand the AI assistant beyond call screening into areas like shopping, financial services, and lifestyle use cases

The details

Equal AI raised $30 million in a Series B funding round co-led by Prosus Ventures and Tomales Bay Capital.
The funding round also included participation from Think Investments, Valiant Fund, and individual investors like Sameer Nigam and Sandhya Devanathan.
The company plans to expand its AI assistant beyond call screening into areas like shopping, financial services, and lifestyle use cases.
Equal AI’s AI assistant screens spam calls, answers them, and provides users with a summary of the call.
The startup has over 1 million monthly active users and 350,000 daily active users.
Equal AI was founded in 2022 and initially operated as a B2B identity verification aggregator before expanding into the consumer space in 2025.
The funding round is split into tranches, with different valuations based on whether the startup meets predetermined targets.

The bigger picture

The funding reflects growing investor interest in voice AI and consumer-facing AI agents in India.
Equal AI’s ability to understand local context and support multiple Indian languages gives it a competitive edge.
The startup is expanding into new services beyond call screening, including concierge, shopping, and financial services.
The company is building a single, intelligent layer that can be deployed on smartphones to act on behalf of users.

About the business

Equal AI provides an AI assistant that screens phone calls on behalf of users, answering unknown calls and providing summaries.
The AI assistant can understand the purpose of the call and provide users with live transcripts, summaries, and recordings.
On the enterprise side, Equal AI serves more than 350 customers across banking, lending, insurance, telecom, and digital platforms.
The company processes over 1 billion transactions a year with a 97% KYC success rate.
Equal AI also offers B2B identity verification and financial data analysis services.

What happens next

Equal AI plans to expand its AI assistant beyond call screening into concierge, shopping, and financial services.
The company aims to build a single, intelligent layer that can be deployed on smartphones to act on behalf of users.
Equal AI is targeting to become India’s AI assistant, serving 100 million Indians.

The deal

Type: funding

Investors

Prosus Ventures (lead) — Early-stage arm of Prosus.
Tomales Bay Capital (co-lead) — San Francisco-based global investment firm.
Think Investments (participated)
Valiant Fund (participated)
Sameer Nigam (individual investor) — Founder of PhonePe.
Sandhya Devanathan (individual investor) — VP of Meta’s India and Southeast Asia.
Zubin Mittal (individual investor) — From Airtel Family Office.
Sridhar Pinnapureddy (individual investor) — Chairman of CtrlS Datacenters.

Founders

Keshav Reddy, Founder
Rajeev Ranjan, Co-founder

About Equal AI

Product: Android app that answers unknown calls on behalf of users with live transcripts and voice AI capabilities
Customers: Indian consumers managing spam calls and accessing AI-powered services
How it makes money: Consumer platform with subscription and B2B services for enterprise call management
What sets it apart: Conversational AI that screens calls intelligently and provides live call transcripts
Operations: Mobile-first platform with expanding feature set for lifestyle and commerce services

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