GreyLabs AI Secures Rs 85 Cr in Series A round led by Elevation Capital

GreyLabs AI, a BFSI-focused AI startup has raised Rs 85 Crore (around $10 million) in its Series A funding round led by Elevation Capital.

Existing backer Z47 (formerly Matrix Partners India) and other undisclosed angel investors, also participated in this round.

The startup said the funds will be used to strengthen its tech stack, grow its customer base, expand its presence, and improve on-ground client support.

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In June 2024, the speech analytics platform secured over $1.5 million in a seed round led by Z47 (formerly Matrix Partners India).

"The consumer insights and speech analytics product remains the core of our business. Most of our revenue still comes from there. Now, we’re building on that. Since we know what it takes to run a high-quality call centre, we can extend that to running an entire contact centre powered by AI," said Aman Goel, Co-founder at GreyLabs.

“As day-zero investors, we’ve been impressed by how quickly GreyLabs AI has gone from concept to category impact. They’ve earned the trust of banks and insurers where scale, compliance, and customer trust are non-negotiable. We’re proud to continue backing Aman and the team as they build the voice OS for India’s financial services industry," said Pranay Desai, Managing Director at Z47.

About GreyLabs AI 

Founded in 2023 by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak and Shreyas Patel, the Mumbai-based GreyLabs AI enables financial institutions to automate their contact center operations through its AI-driven product suite. 

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The offerings include agentic voice agents and speech analytics tools that help clients derive insights and enhance quality assurance efficiency.

The company serves over 50 BFSI clients, including RBL Bank, AU Bank, IDFC FIRST Bank, groww, and Axis Finance. It now aims to expand its customer base to 300 and establish new regional offices.

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