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ElevenLabs secures $180 million funding for expanding AI voice technology


ElevenLabs, a leading player in the synthetic voice technology sector, recently announced the successful completion of a $180 million Series C funding round, bringing its total capital to $281 million since its launch in 2022. This funding, co-led by A16Z and ICONIQ Growth, with participation from prestigious investors like NEA and World Innovation Lab, values the company at $3.3 billion post-money. The investment will enable ElevenLabs to enhance its AI-driven audio solutions and expand its business development initiatives.

With a focus on creating more expressive audio AI models and developing ‘omni-models’ for enhanced multimodal interactions, ElevenLabs has attracted significant interest from media, gaming publishers, and tech startups seeking to leverage its technology. Strategic investors such as Deutsche Telekom and LG Technology Ventures have also joined the funding round, further validating ElevenLabs’ market relevance within the AI audio space.

The company’s CEO, Mati Staniszewski, highlighted the importance of improving speech-to-text capabilities and addressing challenges within AI voice technologies. Despite encountering misuse of its technology in misinformation campaigns and deepfake creation, ElevenLabs remains committed to prioritizing safety measures and industry standards for content tracking.

As the AI audio market continues to evolve, ElevenLabs’ innovative solutions and strategic partnerships with telecommunication firms position it for continued success. By responsibly addressing challenges and focusing on enhancing user experiences through AI-driven interactions, ElevenLabs aims to solidify its position as a leader in the competitive AI audio industry.

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