Indian voice AI startup Navana.ai has raised ₹40 crore in a Series A funding round led by entrepreneur and investor Ronnie Screwvala, as the company looks to expand its technology across the banking, financial services and insurance sector.
The round also saw participation from Antler India, Neysa.ai founder Sharad Sanghi, WestBridge Capital Managing Partner Sandeep Singhal and investor Paula Mariwala, among others.
Navana.ai plans to use the fresh capital to expand its Voice AI deployments among BFSI enterprises, strengthen its proprietary speech models for Indian languages and dialects, and accelerate the development of its AI Contact Centre and automated evaluation platform.
Founded in 2018 by brothers Raoul Nanavati and Jai Nanavati, the Mumbai-based startup develops voice AI technology for enterprises operating in regulated industries. The company describes its offering as a sovereign, full-stack Voice AI platform, with capabilities spanning voice agents, speech recognition, transcription and real-time analytics.
Its proprietary speech models currently support 12 Indian languages and 45 dialects, addressing the linguistic diversity that businesses encounter while serving customers across the country. The company is particularly focused on BFSI, where voice-based systems are increasingly being explored for customer interactions and contact centre operations.
According to Navana.ai, its platform has processed more than 100 million minutes of voice AI interactions for BFSI clients. Its customer base includes Bajaj Finserv, Protean, Ujjivan Small Finance Bank, Jana Small Finance Bank and Grihum Housing Finance. These usage figures have been reported by the company.
The latest investment follows a ₹7 crore pre-Series A round raised by Navana.ai in July 2025. That round was led by Antler India and included participation from investors such as Ajay Agarwal, Screwvala and Singhal. At the time, it took the startup's total funding to ₹13.2 crore.
The new capital gives Navana.ai additional resources to deepen its presence in the financial services sector while continuing to develop speech technology designed for India's multilingual market.
The funding also comes as Indian startups increase their focus on voice-based AI for enterprise applications. For businesses serving customers across different languages and levels of digital familiarity, voice is emerging as another interface through which AI-powered services can be delivered.
For Navana.ai, the next phase will centre on expanding enterprise deployments while developing its Indian-language speech models and AI-powered contact centre products.
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