January 31, 2025: In a significant leap for artificial intelligence (AI) in audio technology, ElevenLabs, an AI audio research and deployment company has secured $180 million. The fresh infusion of capital will enable doubling down on its expansion efforts, particularly in India. With the country rapidly emerging as a hotbed for AI innovation, ElevenLabs is investing heavily in local talent and technology development.
The US-based Text to Speech, AI Voice Generator provider is founded by Piotr Dąbkowski and Mateusz Staniszewski—two former Google engineers. The company has already established a local leadership team and plans to scale up its operations to meet the needs of businesses and customers in India.
ElevenLabs to localise AI Audio technology in India
A key focus for ElevenLabs is on localizing its technology for the region, enhancing support for Indic languages, and expanding its already impressive voice library.
ElevenLabs‘ partnership with audio platform Pocket FM in 2024 marks a pivotal moment in their journey. Together, they are leveraging AI to transform text-based content, such as scripts and books, into engaging audio series, thereby bridging the gap between traditional media and modern AI capabilities. This move underscores the company’s commitment to pushing the boundaries of voice AI applications.
The funds will primarily be allocated to advancing ElevenLabs’ voice AI research, fine-tuning its developer tools, and enhancing scalability for businesses worldwide. AI safety is also a major focus, ensuring that the company’s solutions remain ethical and secure.
In just two months since launching Conversational AI, developers have created more than 250k customized AI agents, bringing voice AI to education, employee training, customer support, gaming, and entertainment.
Mati Staniszewski, CEO of ElevenLabs, expressed excitement over the future of the company, stating, “Speech is how we naturally communicate. This funding moves us closer to a world where digital interactions happen by voice—fluid, natural, and as effortless as a conversation.” The Series C round has propelled ElevenLabs’ valuation to an impressive $3.3 billion, three times its value from just one year ago.
This boost in funding reflects the growing demand for voice AI technologies as businesses seek to enhance user experiences, simplify customer interactions, and innovate across industries. As digital voices become an integral part of everyday life, ElevenLabs continues to lead the way in delivering high-quality, scalable AI voice solutions.
The latest Series C funding, co-led by a16z and ICONIQ Growth also saw new investments from high-profile firms like NEA, World Innovation Lab (WiL), Valor, Endeavor Catalyst Fund, and Lunate. In addition, existing investors such as Sequoia Capital, Salesforce Ventures, Smash Capital, and others contributed to the round, reflecting growing confidence in ElevenLabs’ ability to revolutionize the voice AI landscape.
