Mumbai: GreyLabs AI, a Mumbai-based voice AI solutions startup focused on the banking and financial services sector (BFSI), has raised Rs 85 crore in a Series A funding round led by Elevation Capital.Â
The fresh capital will be used to expand the company’s presence in Bengaluru and Delhi, scale its newly launched Agentic Voice AI platform, and strengthen its research and development capabilities in the BFSI sector.Â
Focus on Expanding Client Base and AI Capabilities
GreyLabs AI builds AI-powered autonomous voice agents for financial institutions to automate contact centre operations. The company currently works with more than 50 leading BFSI clients and plans to expand this base to 300 clients.
According to the Chief Executive Officer (CEO) Aman Goel, the company’s speech-to-text and language models are finely tuned for financial services. With the new funding, GreyLabs AI plans to enter the autonomous voice AI agent category and further enhance its technology stack.
Strong Traction Among Leading Financial Institutions
In just 18 months since its launch, GreyLabs AI has processed hundreds of millions of customer conversations for over 50 BFSI clients. Its client list includes RBL Bank, AU Bank, IDFC FIRST Bank, Axis Finance, Motilal Oswal Financial Services, Fibe, SBI Life Insurance, Piramal Finance, ICICI Prudential Life Insurance, and Groww.
The company’s Voice AI agents are designed to automate key functions across sales, customer service, collections, renewals, and PIVC (Personal Interaction Video Calls), among others. The platform also supports multiple languages to cater to diverse customer segments across India.
Investment in Research and Development
GreyLabs AI plans to use the funds to enhance its voice agent stack, deepen adoption within the BFSI industry, and expand its team and infrastructure footprint. The company has set up an R&D centre in Bengaluru, sales offices in Gurugram (NCR), and its leadership team is based in Mumbai. The new investment will help double down on R&D and accelerate product innovation.
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