Hyderabad-based identity verification startup Equal has raised $10 million in its first institutional funding round, led by Prosus Ventures, Tomales Bay Capital and its founder Keshav Reddy. This round is valued at Equal at $80 million. Founded in 2022 by Reddy and Rajeev Ranjan, Equal’s platform streamlines KYC processes and fights fraud for 350 clients, including TVS Credit and Upstox. Other investors include Blume Ventures, DST Global and Binny Bansal of Flipkart. The funds will support scale-up, partnerships and the development of a data sharing framework. Equal also plans to expand into consumer services and plans to deepen its regulatory involvement through licensing and strategic investments.
TSMC’s 7nm chip ban hits China’s AI chip industry hard; Identity verification company Equal secures $10 million in its first institutional raise
