GreyLabs AI, an emerging player in the generative AI space, has secured INR 85 crore (nearly $10 million) in a Series A funding round led by Elevation Capital.
The round also included participation from existing investor Z47 (formerly Matrix Partners India) and several undisclosed angel investors, reflecting growing confidence in India’s AI automation ecosystem.
The fresh capital will be used to enhance GreyLabs AI’s technology infrastructure, expand its customer base, and broaden its geographical footprint.
The company plans to strengthen on-ground client support and scale its AI solutions to serve more enterprises across the BFSI (Banking, Financial Services, and Insurance) and fintech sectors.
Founded in 2023 by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, GreyLabs AI specializes in automating customer care operations for financial institutions using AI-driven voice agents and speech analytics.
Its platform helps organizations derive actionable insights, improve quality assurance, and deliver enhanced customer experiences through real-time AI-powered interactions.
This Series A round follows the company’s $1.5 million seed funding in 2023, which was led by Matrix Partners India (now Z47) and supported by noted angel investors such as MoEngage founder Narasimha Reddy, Uni Cards founder Nitin Gupta, and Scapia founder Anil Goteti.
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Currently, GreyLabs AI serves over 50 BFSI clients, including prominent names like RBL Bank, AU Bank, IDFC FIRST Bank, Groww, and Axis Finance. The startup aims to grow its customer base to 300 and open new regional offices as part of its expansion strategy.
With this new capital, GreyLabs AI is set to lead AI-driven automation in customer service, transforming how enterprises manage voice interactions and operational efficiency within India’s rapidly evolving financial ecosystem.
