GreyLabs AI, a speech analytics platform for financial institutions, has secured $1.5 million in a seed round led by Matrix Partners India.

The round also saw participation from some of the significant investors which includes Vasant Sridhar (founder of OfBusiness), Narasimha Reddy (founder of MoEngage), Nitin Gupta (founder of Uni Cards), Anil Goteti (founder of Scapia Cards), and several other angel investors.

GreyLabs AI aims to revolutionize how banks, financial institutions, and fintechs extract actionable insights from unstructured data, particularly from speech data generated in call centers and email communications.

GreyLabs AI | A speech analytics platform

Founded by Aman Goel and Harshita Srivastava in October 2023, and later joined by Debabrata Basak, Raj Sanghavi, Shivam Gupta, and Shreyas Patel, GreyLabs AI helps enterprises extract insights from the organisation’s unstructured data which includes the call recordings and email data.

The platform enables enterprises to automate the call quality assurance and agent training process, helping them maintain compliance with regulatory guidelines and enhancing overall operational efficiency.

Apart from that, its technology can precisely identify lead generation and cross-selling opportunities within calls.

The GreyLabs AI team previously co-founded Cogno AI, a conversational AI platform for banks and financial institutions that was acquired by Exotel in 2021.

GreyLabs AI competitors includes Uniphore, Mihup and indirectly Contiinex, and Reverie, among others.

The company as of now serves seven customers and aims to add over 30 clients by the end of the fiscal year.

Speaking about the development, Aman Goel, Founder and CEO of GreyLabs AI, said,

“We are building a team to continuously improve and build new features. And most of the fund utilisation will be done on building the next phase of the product. Secondly, on the go-to-market side, now that we have worked with a few customers and are seeing very good results, we want to go to the market and expand rapidly to other customers”.

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