With the help of several angel investors and current investor Z47, GreyLabs AI, a voice AI platform revolutionizing customer interactions in banking and financial services, has raised Rs 85 crore ($9.6 million) in a Series A funding round led by Elevation Capital.
Key Highlights
- GreyLabs AI raises ₹85 crore in Series A, led by Elevation — boosting voice AI for BFSI.
- Funds will be used to expand R&D, sales teams, and onboard 300+ BFSI clients rapidly.
GreyLabs' flagship agentic voice AI platform, which aims to automate and humanize customer engagement across India's BFSI sector, was launched concurrently with the funding.
In June of last year, GreyLabs AI raised more than $1.5 million in a seed round led by Matrix Partners India.
Targeting more than 300 BFSI clients and billions of monthly interactions, the company says the new funds will be used to grow its workforce, improve R&D, and increase its presence in Bengaluru and Delhi.
To help banks, insurers, and NBFCs automate customer interactions while maintaining regulatory compliance, GreyLabs AI was founded in 2023 by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel. Its platform integrates email analytics, speech, and voice AI to create a single automation stack that increases productivity and yields useful insights.
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With multilingual capabilities catered to India's diverse audience, the company's next-generation voice AI agents manage sales, customer service, collections, renewals, and verification calls.
Prior to being acquired by Exotel in 2021, the GreyLabs AI team co-founded Cogno AI, a conversational AI platform for banks and financial institutions.
GreyLabs claims to have grown quickly in just 18 months, handling hundreds of millions of conversations for more than 50 BFSI clients, such as Motilal Oswal Financial Services, Groww, SBI Life Insurance, Piramal Finance, ICICI Prudential Life Insurance, RBL Bank, AU Small Finance Bank, Axis Finance, Fibe, and IDFC FIRST Bank.
