GreyLabs AI has raised ₹85 crores in a Series A funding round led by Elevation Capital, along with existing investor Z47 and other angels. Just 18 months after inception, GreyLabs AI has rapidly established itself as a trusted partner for over 50 financial institutions and fintechs, processing hundreds of millions of customer conversations. Their proprietary agentic Voice AI platform is now central to automating and humanising interactions across sales, service, collections, and verification for India’s banking and finance sector. This fresh capital injection will fuel the company’s plans to deepen its technology stack, expand its presence in Bengaluru and Delhi, and push towards acquiring 300 BFSI clients in the coming years.
GreyLabs AI, founded by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, leverages AI to build autonomous voice agents that enable financial institutions to reimagine contact center operations. The startup’s multilingual voice agents are crafted specifically for financial services, ensuring both compliance and empathy in real-time conversations. Over the past year, GreyLabs AI has not only delivered actionable insights and automated quality assurance for BFSI clients like RBL Bank, AU Small Finance Bank, IDFC FIRST Bank, Axis Finance, Fibe, SBI Life Insurance, Piramal Finance, ICICI Prudential Life Insurance, Motilal Oswal Financial Services, and Groww, but also driven measurable improvements in conversion rates and customer satisfaction.
Aman Goel, who also co-founded conversational AI pioneer Cogno AI, stated the team’s vision has always been to reimagine how conversations happen in BFSI, making customer interactions more intelligent, scalable, and compliant while retaining a human touch. Investors are optimistic about GreyLabs AI’s trajectory, with Elevation Capital’s Vaas Bhaskar noting the company’s clarity of vision and execution pace as standout qualities.
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The new funding will empower GreyLabs AI to enhance its voice agent stack, scale R&D efforts, expand its workforce and on-ground client support, and help financial institutions audit conversations more comprehensively. Industry observers view the company’s rapid rise as emblematic of the growing demand for AI-powered solutions in banking and insurance, with GreyLabs AI competing against established players like Uniphore and Mihup, and reinforcing India’s emergence as a global innovator in GenAI-driven customer experience transformation.
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