GreyLabs AI, a speech analytics platform tailored for financial institutions, has successfully raised $1.5 million in a funding round spearheaded by Matrix Partners India, a prominent early stage venture capital firm.
Among the notable participants in this funding round were Vasant Sridhar, founder of Ofbusiness, Narasimha Reddy, founder of MoEngage, Nitin Gupta, founder of Uni Cards, and Anil Goteti, founder of Scapia.
Co-founded in October 2023 by Aman Goel and Harshita Srivastava, GreyLabs AI is headquartered in Mumbai and specializes in enhancing sales agent productivity through advanced speech analytics. The platform automates the extraction of actionable insights and streamlines audit and quality assurance processes within financial organizations.
Aman Goel, co-founder and CEO, highlighted the strategic allocation of funds towards enhancing product features and expanding market reach. “We are focused on advancing our product capabilities and scaling our customer base,” he stated in an interview with ET.
The platform currently supports English, Hindi, and Hinglish, with plans underway to include additional languages such as Tamil, Gujarati, Marathi, and Telugu. This multilingual capability aims to cater to diverse linguistic needs across India and prepare for future expansion into global markets, particularly in regions like the Middle East and Southeast Asia.
Harshita Srivastava, co-founder and chief product and technology officer, emphasized the platform’s cutting-edge capabilities enabled by advancements in generative AI and speech recognition. “Our system achieves near-human level accuracy in speech analytics, leveraging the latest in AI technology,” she explained.
GreyLabs AI’s expansion plans include penetrating adjacent markets beyond India, focusing on regions facing similar challenges in leveraging data for operational efficiency and customer engagement.