Hyderabad: Equal AI, an AI call assistant platform founded by GVK Group scion Keshav Reddy, has secured US$30 million (Rs 287 crore) in a Series B funding round co-led by Prosus Ventures and Tomales Bay Capital. The Indian consumer artificial intelligence company plans to transform its call-based assistant into a comprehensive everyday services platform.
The funding, disbursed in tranches, also attracted participation from Think Investments, Valiant VC, PhonePe founder Sameer Nigam, Zubin Bharti Mittal of the Airtel family office, Skyflow co-founder Anshu Sharma, Meta India and Southeast Asia Vice President Sandhya Devanathan, and CtrlS Datacenters chairman Sridhar Pinnapureddy.
Prosus Ventures and Tomales Bay Capital previously co-led Equal’s US$10 million Series A round in November 2024. Founded in 2022, Equal initially operated as a consent-driven identity and data-sharing infrastructure provider for enterprises. Today, the platform serves over 350 customers across banking, lending, insurance, telecom, and digital platforms, processes more than 1 billion transactions annually, and has powered 101 million users to date.
Equal launched its AI call assistant in October 2025, designed to screen spam calls, identify caller intent, and take actions on behalf of users. The product has crossed 1 million monthly active users and 350,000 daily active users in under eight months, the company stated.
Keshav Reddy said the new capital will deepen call assistant capabilities and support expansion into communications, financial services, shopping, lifestyle, and concierge use cases.
Thiago Viana, executive at Prosus Ventures, described Equal as “category-defining,” while Tomales Bay founder Iqbaljit Kahlon noted that Equal could become India’s digital interaction layer at scale nationwide.
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About the Author: Swati Bharadwaj is a business journalist with 30 years of experience covering technology, GCCs, talent, cybersecurity, pharma & biotech, aerospace & defence, BFSI, gems & jewellery, automotive, hospitality, infrastructure, retail, and other sectors. She has worked with TOI and ET across Hyderabad, Bengaluru, Pune, and Ahmedabad.
