GreyLabs AI has raised Rs 85 crore in Series A funding led by Elevation Capital, with participation from existing investor Z47 and other angel investors. The fresh capital will help the company deepen its technology stack, expand operations in Bengaluru and Delhi, and accelerate client acquisition across the BFSI sector, targeting over 300 institutions in the coming years.
Founded just 18 months ago by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, GreyLabs AI has quickly become a trusted partner for more than 50 financial institutions and FinTechs, processing hundreds of millions of customer interactions.
Its proprietary agentic Voice AI platform helps banks and NBFCs automate and humanise customer engagement across sales, service, collections, and verification.
The company’s multilingual AI voice agents, purpose-built for BFSI, deliver compliance, empathy, and scalability, transforming contact center operations while maintaining a human touch.
GreyLabs AI’s technology is already being used by leading institutions such as 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.
Speaking on the company’s vision, 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, added, “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.”
The new funding will be directed towards R&D expansion, workforce growth, and enhancing the company’s AI-driven conversation auditing tools. Industry experts note that GreyLabs AI’s rise reflects the accelerating demand for AI-powered customer engagement in banking and insurance, where the company is emerging as a strong challenger to established players like Uniphore and Mihup.
With its sharp focus on BFSI and conversational intelligence, GreyLabs AI is poised to play a defining role in shaping India’s GenAI-driven financial transformation.
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