Mumbai, India | 6th October, 2025
India’s BFSI sector handles millions of customer conversations every day. These interactions remain costly, compliance-heavy, and dependent on manual processes, leaving banks and insurers struggling to balance scale, efficiency, and customer experience.
GreyLabs AI is solving this with its agentic Voice AI platform, built ground-up for BFSI. In just 2 years, the company has scaled to process hundreds of millions of conversations for 50+ institutions including RBL Bank, AU Bank, IDFC FIRST Bank, Axis Finance, SBI Life, Piramal Finance, ICICI Prudential Life, Motilal Oswal, Fibe, and Groww.
The company has now raised ₹85 Crores in Series A funding led by Elevation Capital, with participation from Z47 and leading angels. The fundraise coincides with the launch of GreyLabs’ flagship Voice AI Agent Platform, enabling autonomous conversations across sales, service, collections, renewals, PIVC and more, multilingual, compliant, and tuned for Indian users. The funding also enables GreyLabs AI to expand into Bengaluru and Delhi with new regional offices, enhancing on-ground client support.
"Our vision from day one has been to reimagine how conversations happen in BFSI," said Aman Goel, Co-founder & CEO, GreyLabs AI. "Voice is the most natural interface for customers, when it comes to Financial Services, almost no innovation has happened on that front. We wanted to change that by making conversations faster, more intelligent, and truly scalable while maintaining the compliance and empathy that end-consumers."
Pranay Desai, Managing Director at Z47 added “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.”
Vaas Bhaskar, Partner, Elevation Capital said, "Over the past year, we've seen GreyLabs AI go from a bold vision to a product already delivering measurable outcomes for some of the largest players in BFSI. What stood out to us was the team's clarity, pace of execution, and deep understanding of this space. We believe they have the potential to build a defining company in this category."
Unlike traditional call center solutions that focus only on analytics or partial automation, GreyLabs delivers a comprehensive contact center stack tuned for BFSI. Key offerings include:
- Voice AI Agents (flagship product): Multilingual agents that manage sales, service, collections, renewals, and PIVC calls with AI efficiency and human empathy.
- Comprehensive Speech Analytics: Unlocks intelligence from conversations, predicting purchase intent, churn risk, and sales forecasts for CXOs.
- Email Analytics Integration: AI-driven sentiment, intent, and compliance checks across customer communication, ensuring timely follow-ups.
Together, these offerings address industry pain points: manual QA covering less than 5% of calls, escalating operational costs, difficulty scaling without compromising compliance, and lack of real-time intelligence from conversations.
With this round, GreyLabs will expand into a complete AI-powered contact center stack and grow adoption of voice agents as the default interface for BFSI, scaling from 50+ to 300+ institutions.
Catch Aman and the team in conversation with Vineet Kanabar on the Zero to Infinity podcast.
About GreyLabs AI
Founded by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, GreyLabs AI builds an end-to-end, agentic Voice AI Platform specifically designed for the banking and financial services industry. The platform transforms raw customer conversations into business intelligence, operational efficiency, and autonomous customer engagement while maintaining the accuracy, compliance, and empathy that BFSI demands. Headquartered in Mumbai with branch offices in Bangalore and Delhi, GreyLabs AI currently serves over 40+ leading BFSI institutions.
About Z47
Founded in 2006, Z47 is an investment Firm with more than 150 investments till date and an AUM of over $3.5 billion. Guided by a ‘founders first’ philosophy, Z47 is committed to backing missionary founders leading India to its goal of becoming a developed nation by 2047, prioritizing founders over markets.
Z47’s focus sectors include Financial Services, Consumer, B2B, Advanced Manufacturing and Enterprise AI amongst others. We are proud partners to several Enterprise AI companies; select ones include AtomicWork, Krutrim, MoEngage, Rocketlane, and Toddle. Other select investments include Dailyhunt, Five Star Business Finance, OfBusiness, Ola, Ola Electric, and Razorpay.
Z47 has offices in Mumbai, Delhi, Bengaluru and GIFT City.
For more information, please contact: newsroom@z47.com
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