Voice AI platform GreyLabs AI has secured Rs 85 crore ($9.6 million) in a Series A round led by Elevation Capital, with participation from Z47 and several angel investors. The funding comes alongside the official launch of its flagship agentic voice AI platform, designed to automate and humanize customer engagement across India’s banking and financial services (BFSI) sector.
Funding Round Details
The company previously raised $1.5 million in June 2024 from Matrix Partners India. With the new capital, GreyLabs plans to expand its team, enhance R&D, and grow operations across Bengaluru and Delhi, targeting over 300 BFSI clients and handling billions of monthly interactions.
What GreyLabs Solves
Founded in 2023 by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, GreyLabs AI helps banks, NBFCs, and insurers automate complex customer interactions while ensuring regulatory compliance. Its unified automation stack integrates voice AI, speech, and email analytics, enabling BFSI firms to improve efficiency and gain actionable insights.
Strategic Edge
GreyLabs’ voice agents handle sales, customer service, renewals, and verification calls in multiple Indian languages. The founding team previously built Cogno AI, a BFSI-focused conversational platform acquired by Exotel in 2021 — giving them a strong edge in enterprise AI.
In just 18 months, the startup has scaled to 50+ BFSI clients, including RBL Bank, AU Small Finance Bank, IDFC FIRST Bank, SBI Life Insurance, Piramal Finance, ICICI Prudential, and Groww.
Market Outlook
As India’s BFSI sector accelerates its digital transformation, GreyLabs competes with Uniphore, Mihup, Contiinex, and Reverie, positioning itself as a key enabler in India’s growing voice AI ecosystem.
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