Newsletter
GreyLabs AI, a Mumbai-based voice AI startup has raised ₹85 crore in Series A funding led by Elevation Capital.
GreyLabs builds AI-powered voice agents that help financial institutions automate customer calls and contact centre operations.
The deets: the company already works with 50+ BFSI clients including RBL Bank, AU Bank, IDFC FIRST Bank, Axis Finance, SBI Life, ICICI Prudential, and Groww.
The new funds will be used to scale its Agentic Voice AI platform, expand offices in Bengaluru and Delhi, and grow its R&D team in Mumbai and NCR.
The why: GreyLabs is raising funds to scale its newly launched Agentic Voice AI platform, which automates customer conversations for banks and insurers.
The company plans to double down on R&D, strengthen its Bengaluru innovation centre, and expand offices in Delhi and Mumbai. The goal is to grow its client base from 50 to 300 financial institutions and cement its position as the go-to voice AI player for India’s BFSI sector.
Zoom out: India’s AI-powered voice agent market is growing rapidly as banks, insurers, and fintechs race to automate customer interactions. Companies are turning to voice AI to handle queries, reminders, and KYC verification efficiently and in multiple Indian languages.
The market is projected to grow at over 25% annually in the next few years, driven by advances in speech recognition, Natural Language Processing (NLP), and generative AI.
