Tomales Bay Capital
5 3rd St Ste 900, San Francisco, CA, 94103, United States
Overview
Tomales Bay Capital is a venture capital and private equity firm that partner with founders to build compounding franchises. Tomales Bay Capital applies a concentrated investment approach to build long-term positions in the companies at critical inflection points of their growth trajectory.
- Total investments
- 7
- Lead investments
- 4
- Investments · 12mo
- 1
- Active investors
- 3
Sector focus
- Finance
- Financial Services
- Venture Capital
Investment portfolio
- Equal AI
Led · Series B · Jun 2026
Equal AI launched an Android app that screens unknown calls and shows users why someone is calling, offering quick-reply options that the AI reads to the caller and allowing custom messages. Since its launch last year the app has grown to more than one million monthly active users and over 300,000 daily active users, and it records calls with transcription history and summaries available in-app. The startup uses a mix of speech recognition, automatic speech recognition (ASR), and speech generation models with its own orchestration layer, and has built support for over 10 languages with code-mixing in mind. Equal began as a data-sharing company for financial services and continues to provide data for financial analysis and KYC verification for employers. The company plans to add the ability to screen calls from known numbers, introduce proactive actions (for example texting delivery details with consent or making outbound appointment calls), build an iOS version, and launch a paid subscription tier. Equal AI was founded in 2022 by Keshav Reddy and faces competition from the call-screening products of Google, Apple, and incumbents like Truecaller.
- Equal
Led · Series A · Nov 2024
Equal is a Hyderabad, Telangana-based provider of a data-sharing platform that helps businesses streamline KYC, fraud prevention, and regulatory compliance. Its platform integrates with over 50 ID databases and 4,000+ API providers to enable identity verification and compliance workflows. The company recently invested in OneMoney, India’s first and largest Account Aggregator, to combine consent-driven financial data sharing with its identity services. Equal and OneMoney jointly process over 64 million monthly transactions for more than 250 clients, achieving a 97% KYC-processing success rate. Equal intends to use the Series A proceeds to scale operations, forge strategic partnerships, and develop an integrated, secure, and transparent digital framework to enhance India’s data-sharing ecosystem. The company completed a $10M Series A at an $80M post-money valuation.
- Equal
Led · Series A · Nov 2024
Equal offers a suite of identity verification and financial data-sharing products that help businesses streamline KYC, fraud prevention, and regulatory compliance. The startup integrates more than 50 identity databases and thousands of API providers to aggregate identity and transaction signals. Equal recently acquired an undisclosed stake in account aggregator OneMoney to combine its identity verification services with consent-based financial data sharing. Founded and led by Keshav Reddy (with co-founder Rajeev Ranjan), the two-year-old company was bootstrapped for over two years and has grown to more than 350 customers, including State Bank of India, HDFC Bank, ICICI Bank, Reliance Jio, Airtel, Uber, and Zoom. One early customer, Upstox, has used Equal for about a year and is processing roughly 350,000 transactions a month through the platform. Equal plans to scale operations, expand its product suite, and forge strategic partnerships following its recent fundraise.
- Osaro
Participated · Series C · Aug 2021
Osaro develops advanced robotic automation systems that combine machine learning–based object recognition with adaptive control software to enable logistics operators to scale e-commerce order fulfillment, inventory induction and extraction, sortation, and singulation. Its robotic piece-picking solution is optimized for high-SKU inventories, complex packaging, and fragile items, and integrates with ASRS, AMRs, conveyor systems, and other materials handling equipment. The systems have been used by the world’s top retailers, system integrators, and third-party logistics companies. Led by CEO Derik Pridmore, the company plans to extend its solution and support offerings and to leverage its machine learning platform into new automation applications. Osaro will also use the funds to accelerate global growth through market expansion and hiring. Financially, the company raised $30M in a Series C round, bringing total funding to date to $67.5M. OSARO develops machine-learning software for industrial automation, with a focus on robotic piece-picking for e-commerce order fulfillment and intralogistics. The company offers a software-only, vision-first approach and is the only full-stack robotics firm in the article that provides a vision-only solution tightly integrated with major industrial arms and grippers. OSARO's software combines advanced object-recognition models with motion control to automate picking, packing, and related warehouse tasks across industries including electronics, apparel, grocery, and pharmaceuticals. In 2020 the company deployed 18 software systems, grew its team by over 20% (adding ten engineers), and launched a Tokyo subsidiary, OSARO GK. OSARO also collaborated with Innotech to produce a mobile “Piece Picking Station” marketed to logistics and factory automation customers. Performance evaluations cited in the article report a 99% successful pick rate, a 99.81% successful placement rate, and the highest accuracy across 1,400 unseen and adversarial objects. Financially, the company has raised a total of $37 million from investors on four continents. OSARO builds hardware-agnostic machine learning software for industrial automation, with flagship products OSARO Pick (robotic piece-picking) and OSARO Vision (perception and control). Its software automates stationary picking stations in "goods to robots" distribution centers and integrates with a wide range of robotics hardware. The company emphasizes deep learning algorithms that generalize picking tasks with minimal training data and no SKU registration to enable quick, scalable deployments. OSARO operates a cloud-based data and GPU infrastructure to support industrial-scale, fault-tolerant robotic deployments and began deploying OSARO Pick in Japan in early 2018. Planned uses of new capital include talent acquisition, international deployments, and advancing the OSARO Pick and OSARO Vision product lines, with targeted deployment growth in North America, Australia, Korea, China, Japan, and Germany. The company also announced a senior engineering hire (Kevin Pope) to support global scaling. Osaro is a nine-person, San Francisco-based startup developing advanced machine learning (deep reinforcement learning) that combines perception with decision-making. Its core product is a machine-intelligence operating system for robots that learns via trial and error and will be licensed to customers. The company is exploring pilot deployments in industrial robotics and is working with firms that have critical needs for more flexible automation; it currently has no commercial customers. Osaro aims to enable lower-skilled technicians to set up and train robots over time and ultimately to improve agents remotely by learning across deployed robots. The startup raised $3.3 million in seed funding to take its technology to market. Investors in the seed include Scott Banister, Jerry Yang’s AME Cloud Ventures and Peter Thiel.
- Zupee
Led · Series B · Aug 2021
Zupee is an Indian online skill-based gaming platform that builds and publishes live trivia and board-game–inspired formats. Its flagship app hosts live trivia quiz tournaments and the company offers a portfolio of innovative gaming formats based on popular board games. Zupee reports an existing user base of over 10 million and has seen over 250 million gameplays on its platform. The company plans to use new capital to expand its product portfolio and market reach and to hire global talent. Zupee was founded in 2018 by IIT Kanpur graduates Dilsher Singh and Siddhant Saurabh and was incubated with funding from Smile Group. Zupee (operated by Cashgrail Pvt Ltd) runs a skill-based mobile gaming platform that lets users play real-money live quiz tournaments across a broad range of topics. The company was set up in 2018 by Dilsher Singh Malhi and Siddhant Saurabh and is Gurugram-based. It plans to use fresh capital to scale operations, expand market reach, and focus on enhancing user experience and penetration. Zupee has raised multiple rounds previously, including an $8M Series A in April last year and a $1M seed in 2019. Investors and founders say the platform delivers fair, competitive experiences and has shown industry-leading growth according to participating backers. The new funding follows strong investor interest in India’s real-money and skill-based gaming segment. Zupee operates a mobile app that runs live quiz tournaments—over 2,000 live tournaments run 24 hours a day across more than 100 topics. The app, available in English and Hindi, has recorded over five million downloads as of April 1, 2020 and sees over 10 million gameplays every month. Founded in 2018 by IIT Kanpur graduates Dilsher Singh Malhi and Siddhant Saurabh, Zupee says its user base and GTV grew over 100x and 700x respectively in the prior 12 months. The company aims to serve 100 million users and plans to invest the new capital in technology, team, and marketing to accelerate growth. Zupee’s product emphasizes competitive, knowledge-based play among friends and other gamers.