GreyLabs AI, a voice AI platform transforming customer interactions in banking and financial services, has raised ₹85 crore ($9.6 million) in a Series A funding round led by Elevation Capital, with participation from existing investor Z47 and several angels.
The fresh funds raised will be used to expand its platform into an AI-powered contact centre stack and grow its client base to over 300 organisations. The funds will also be used to expand its team, enhance R&D, and grow its footprint across Bengaluru and Delhi.
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.
Founded in 2023 by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, GreyLabs AI helps banks, insurers, and NBFCs automate customer interactions while ensuring regulatory compliance. Its platform combines voice AI, speech, and email analytics, providing a unified automation stack that boosts efficiency and delivers actionable insights.
The firm’s next-generation voice AI agents handle sales, customer service, collections, renewals, and verification calls, with multilingual capabilities tailored to India’s diverse audience.
In just 18 months, GreyLabs claims to have scaled rapidly, processing hundreds of millions of conversations for over 50 BFSI clients, 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. It competes with Uniphore, Mihup and indirectly with Contiinex and Reverie, among others.
Aman Goel, Co-founder and CEO, said, “At GreyLabs AI, we aim to reimagine how conversations happen in BFSI, making them more intelligent, scalable, and compliant while keeping them deeply human. This funding will enable us to advance our AI stack and continue building the next generation of voice automation for financial services.”
Vaas Bhaskar, Partner, Elevation Capital, said, “GreyLabs AI’s rapid execution and strong product-market fit make it a standout in India’s AI ecosystem. The team’s vision to redefine BFSI communication through agentic AI positions them at the forefront of enterprise transformation.”
