Unleashing the Future:  ElevenLabs Secures $80M Following Groundbreaking AI Voice Breakthrough!

By: | January 31st, 2024

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Voice AI is ushering in the future, where technology not only listens but also adapts and anticipates, creating a seamless, intuitive, and perhaps even magical life. Imagine smoother interactions that comprehend your needs before you utter a word, adapting to your mood, and effortlessly managing your world hands-free.

At the forefront of natural speech synthesis, ElevenLabs, a Polish startup, is actively contributing to this transformative landscape. The company specializes in developing AI-powered tools for creating and editing synthetic voices, enabling users to generate AI voices across various languages and accents, incorporating a remarkable range of emotions and intonations.

ElevenLabs recently achieved a significant milestone by securing an impressive $80 million in a Series B funding round. This funding brings the total raised by the company to $101 million, granting it unicorn status in the startup ecosystem.

ElevenLabs’ Strategic Allocation of $80 Million to Propel Voice AI Advancements

With this substantial financial support, ElevenLabs plans to contribute significantly to the ongoing evolution of Voice AI. The funds will be allocated for AI research and product deployment, expanding both infrastructure and the team, and developing innovative products tailored for specific verticals.

ElevenLabs, renowned for its browser-based speech generation app, allows users to create lifelike voices with adjustable toggles for intonation, emotion, and cadence. The app, available for free, reads text aloud using default voices. Paying customers can utilize ElevenLabs’ voice cloning by uploading samples, potentially revolutionizing technology interaction.

However, this innovation raises concerns as voice actors are increasingly required to relinquish rights, paving the way for AI-generated synthetic voices that may eventually replace them.

Nidhi Goyal

Nidhi is a gold medalist Post Graduate in Atmospheric and Oceanic Sciences.

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