Mumbai-based startup GreyLabs AI has successfully raised ₹85 crore (around $10 million) in a Series A funding round. The round was led by Elevation Capital, with participation from existing investor Z47 and several angel investors. This fresh capital marks a significant milestone for the company as it aims to transform customer support across India’s banking, financial services, and insurance sectors.
Founded in 2023 by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, GreyLabs AI has quickly become a pioneer in the voice-based artificial intelligence space. The startup specializes in creating AI-powered solutions that automate customer interactions. Its flagship platform, Agentic Voice AI, uses advanced speech analytics to manage customer queries via voice calls and emails. By understanding customer needs and providing accurate responses in real time, the platform significantly reduces the workload on human agents.
Transforming Customer Support
GreyLabs AI’s platform is designed to make customer service faster, smarter, and more efficient. By automating routine queries, it allows human agents to focus on complex issues that require personalized attention. The AI can analyze customer sentiment, provide instant solutions, and even predict potential concerns before they escalate. This level of automation ensures a smoother and more satisfying experience for customers while helping companies maintain compliance with regulatory standards.
The startup has already partnered with over 50 financial institutions and aims to expand its client base to more than 300 with the new funding. Its solutions are not limited to India’s major cities; GreyLabs AI plans to establish a stronger presence in key markets like Bengaluru and Delhi. By doing so, it seeks to reach more organizations that can benefit from intelligent automation in their customer service operations.
Strategic Plans for Growth
The ₹85 crore funding will be strategically utilized to strengthen GreyLabs AI’s technological capabilities and drive growth. A significant portion will be allocated to enhancing the Agentic Voice AI platform, making it even more capable of handling complex customer interactions. Another focus area is research and development, as the company continues to innovate and introduce new features that can further improve customer engagement.
Expansion is also on the agenda. GreyLabs AI aims to grow its footprint across India and eventually explore international opportunities. The startup’s leadership team is confident that their technology can meet the rising demand for AI-driven solutions in financial services, a sector that increasingly values efficiency, accuracy, and customer satisfaction.
Looking Ahead
With strong backing from prominent investors and a robust technological platform, GreyLabs AI is poised to make a major impact in the AI automation space. Its focus on voice-based solutions for the BFSI sector positions it well to capitalize on the growing trend of intelligent customer service automation. As the company continues to scale, it remains committed to delivering innovative solutions that simplify complex processes and enhance the overall customer experience.
GreyLabs AI’s journey from a young startup to a funded innovator demonstrates the potential of AI to transform traditional industries. With the new capital infusion, the company is ready to accelerate its mission of making customer support faster, smarter, and more accessible, setting new standards for efficiency in India’s financial sector.