Equal AI secures $30 million Series B to expand AI call screening
The company’s total funding now exceeds $42 million as it navigates a unique tranche-based valuation structure and competes with tech giants in the call screening market.
Equal AI, an Indian technology firm specialising in AI-powered call screening, has raised $30 million in Series B funding. The round was led by Prosus Ventures and Tomales Bay Capital, with participation from Think Investments and Valiant Fund. The injection brings the company’s total capital raised to more than $42 million since its inception.
The funding structure is divided into three tranches, with the startup’s valuation adjusting at each stage based on the achievement of predetermined performance targets. This approach allows the company to advertise the highest valuation achieved, even if the majority of equity was sold at a lower price point. Equal AI declined to disclose specific valuations for any of the tranches.
Founded by Keshav Reddy in 2022, the company launched its AI assistant last year. It currently reports over one million monthly active users and 300,000 daily active users. The application screens incoming calls on Android devices, providing users with a summary of the caller’s intent and quick-reply options. The app supports more than 10 languages, including code-mixed speech common in India, and records calls for transcription and review.
Individual investors in the round include Sameer Nigam, founder of PhonePe; Zubin Bharti Mittal from the Airtel Family Office; Anshu Sharma, co-founder of Skyflow AI; Sandhya Devanathan, vice-president of Meta India and Southeast Asia; and Sridhar Pinnapureddy, chairman of CtrlS Datacenters.
Equal AI plans to utilise the new capital to develop an iOS version of its app and introduce a paid subscription tier. The company is also working on expanding its AI assistant to take proactive actions, such as texting delivery addresses or making outbound calls to book appointments. While the app currently screens unknown numbers, the firm intends to add screening for known contacts in future updates.
The startup faces competition from established players such as Truecaller, Google, and Apple, all of which offer call screening features. Thiago Viana, global co-head at Prosus Ventures, noted that Equal AI’s focus on local context and its decision to build an independent app rather than relying on third-party messaging platforms provides a competitive edge. Equal AI aims to create user stickiness through niche use cases before expanding into broader areas.
