GreyLabs AI Secures INR 85 Cr to Strengthen Voice AI Solutions in BFSI Sector The Series A round was led by Elevation Capital, with participation from existing investor Z47 and several angel investors.
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GreyLabs AI, a voice-based AI platform focused on transforming customer interactions in the banking and financial services industry, has raised INR 85 crore (around USD 9.6 million) in its Series A funding round.
The round was led by Elevation Capital, with participation from existing investor Z47 and several angel investors.
The funding announcement comes alongside the launch of GreyLabs' flagship agentic voice AI platform, aimed at automating and humanising customer engagement for banks, insurers, and non-banking financial companies across India.
The company plans to utilise the fresh capital to expand its workforce, enhance research and development efforts, and strengthen its presence in Bengaluru and Delhi. It is targeting more than 300 clients in the BFSI space and billions of monthly customer interactions.
Founded in 2023 by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, GreyLabs AI offers an automation suite that integrates voice AI with speech and email analytics. The platform enables financial institutions to streamline customer engagement while maintaining regulatory compliance and improving operational efficiency.
GreyLabs' AI agents manage diverse functions such as sales, customer service, collections, renewals, and verification calls, supporting multiple Indian languages to cater to the country's varied customer base.
In just 18 months, the startup claims to have reportedly processed hundreds of millions of conversations for over 50 financial institutions, including RBL Bank, AU Small Finance Bank, Axis Finance, Fibe, IDFC FIRST Bank, SBI Life Insurance, Piramal Finance, ICICI Prudential Life Insurance, Motilal Oswal Financial Services, and Groww.
The company, whose founding team earlier built Cogno AI (acquired by Exotel in 2021), competes with players such as Uniphore, Mihup, Contiinex, and Reverie in the conversational AI space.
