Consumer voice artificial intelligence platform Equal AI has raised $30 million in a Series B funding round co-led by Prosus Ventures and Tomales Bay Capital. The round also attracted participation from Think Investments, Valiant Fund, PhonePe founder Sameer Nigam, and Zubin Bharti Mittal of the Airtel family office.
The company did not disclose its post-money valuation following the latest investment.
Equal AI plans to use the fresh capital to expand beyond its core call assistant platform and introduce AI-powered services across communications, financial services, lifestyle management, and concierge offerings. Through this strategy, the company aims to serve India’s nearly one billion smartphone users and strengthen its position in the rapidly evolving consumer AI market.
The funding comes at a pivotal moment for India’s artificial intelligence ecosystem. As smartphone adoption continues to rise and voice remains the preferred mode of digital interaction for millions of users, consumer-focused AI platforms are gaining significant momentum. According to Grand View Research, India’s AI market generated $22 billion in revenue in 2025 and could reach $325 billion by 2033, growing at a compound annual growth rate (CAGR) of 38.1%.
While investors have increasingly backed enterprise-focused voice AI startups, entrepreneurs and venture capital firms continue to identify a massive untapped opportunity in developing AI products directly for consumers.
With its planned expansion into concierge-style services, Equal AI will enter a growing segment that includes startups such as Crew by Swiggy, Pokus, Faff, Aviha, Robin Home, and Khwaaish. The company will also compete indirectly with M, the latest venture launched by Dunzo co-founder Kabeer Biswas, which recently secured funding from Peak XV and Blume Ventures.
Commenting on the company’s growth journey, Keshav Reddy, Founder of Equal AI, 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 100 million users to date.”
Equal AI previously raised $10 million in its Series A funding round in 2024 from Prosus Ventures and Tomales Bay Capital. The continued support from existing investors highlights growing confidence in the company’s vision and long-term growth potential.
Highlighting the broader opportunity in consumer AI, Iqbaljit Kahlon, Founder and Managing Partner, Tomales Bay Capital, said, “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.”
Since launching in October 2025, Equal AI has experienced rapid user growth. The company reported more than one million monthly active users and over 350,000 daily active users within eight months of launch, demonstrating strong consumer adoption of its voice-based AI solutions.
Financially, the company continues to invest aggressively in growth and product development. According to startup intelligence platform Tracxn, Equal AI increased its revenue from ₹2.5 crore in FY24 to ₹4.3 crore in FY25. At the same time, losses rose from ₹12 crore to ₹19 crore as the company expanded operations and invested in technology development.
Equal AI’s flagship product currently helps users manage incoming communications by screening spam calls, understanding caller intent, and performing actions on behalf of users. The company views this functionality as the foundation of a larger behavioral shift in which consumers increasingly rely on AI agents to manage everyday digital interactions.
Moving forward, Equal AI plans to build a broader ecosystem of AI-powered consumer services designed to simplify communication, improve productivity, and deliver personalized digital experiences. By leveraging voice-first technology and artificial intelligence, the company aims to become a key player in India’s next wave of consumer technology innovation.
Equal AI’s $30 million Series B funding round underscores growing investor confidence in India’s consumer AI opportunity. With strong backing from leading investors, rapid user adoption, and ambitious expansion plans, the company is positioning itself at the forefront of the voice-first AI revolution. As AI-powered assistants increasingly become part of everyday life, Equal AI aims to transform how millions of Indians interact with technology, communications, and digital services.
