Voice AI Star ElevenLabs Raises $80 Millions, Achieves Unicorn Status

London-based voice AI startup ElevenLabs has hit the stratosphere, achieving coveted unicorn status following a recent multi-million dollar funding round. According Reuters, a source close to the matter reveals. This astronomical valuation confirms the surging investor confidence in the power of voice technology and the potential ElevenLabs holds within this field.

While the official valuation remains under wraps, whispers suggest the $80 millions Series B funding, led by tech titan Andreessen Horowitz alongside renowned entrepreneurs Nat Friedman and Daniel Gross with participation from Sequoia Capital among others, propelled ElevenLabs to a dizzying $1.1 billion valuation.

This marks a meteoric rise from the $100 million mark achieved just last year, reflecting the explosive growth anticipated for AI voice generation across industries like gaming, entertainment, and even publishing.

“This investment validates our unwavering commitment to pushing the boundaries of voice AI,” shared an ElevenLabs spokesperson. “With this fuel, we’ll accelerate our research and development, empowering creators and businesses to unlock the vast potential of synthetic voices.”

Headquartered in London, ElevenLabs’ technology allows you to craft hyper-realistic voices, mimicking various languages, accents, and even emotions with uncanny accuracy. This opens a Pandora’s box of possibilities, enabling game developers to breathe life into characters, filmmakers to weave more immersive narratives, and marketing teams to personalize customer experiences like never before.

However, with great power comes great responsibility. The ethical implications of AI-generated voices remain a hot topic, raising concerns about potential misuse and misinformation. ElevenLabs recognizes these concerns and emphasizes its commitment to responsible development and deployment of its technology.

As the voice AI sector continues its ascent, ElevenLabs’ rapid rise signals a new era of human-machine interaction. With its newfound resources and ambitious vision, this London-born startup appears poised to orchestrate a symphony of innovation, forever changing the way we hear and interact with the world around us.