London/New York-based ElevenLabs, a generative AI startup engaged on audio AI software program, has secured $80 million in a Sequence B funding spherical at a $1 billion valuation and has achieved unicorn standing.
The funding was co-led by New York-based VC Andreessen Horowitz, who additionally backed their final spherical of $19 million in June 2023. Moreover, Nat Friedman (former CEO of GitHub), Daniel Gross, Sequoia Capital, Smash Capital, SV Angel, BroadLight Capital and Credo Ventures additionally participated within the spherical.
The startup was based final yr by ex-Google and Palantir workers and likewise raised $2 million from Czech UiPath investor Credo Ventures in early 2023.
ElevenLabs plans to make use of the newest funding to strengthen its place as a world chief in voice AI analysis and product implementation. It’ll use the capital to advance analysis, increase infrastructure, develop new merchandise for particular industries and enhance security measures to make sure accountable and moral growth of AI expertise.
New voice AI merchandise on maps
Along with this funding, ElevenLabs has unveiled new product developments, which can go stay within the coming weeks.
Firstly, it has launched a brand new Dubbing Studio that enables customers to dub complete movies and generate and edit their transcriptions, translations and timecodes, providing further management over content material manufacturing. Subsequent up is a Voice Library market, which can present customers with a safe platform to monetize their AI-generated voices. Customers can create knowledgeable AI model of their voice, confirm it and share it through Voice Library.
The corporate additionally confirmed an early preview of the cell app reader that permits direct conversion of textual content and URLs to audio, making it simpler for customers to entry content material on one other medium on the go. The app might be out there at no cost for the primary three months and customers can join early entry through the waitlist.
These will complement current merchandise: Speech Synthesis for lifelike text-to-speech conversion together with a Turbo mannequin optimized for latency; Voice Design and Voice Cloning for creating customized voices; Speech-to-speech for reworking one voice into one other; and AI Dubbing device, which may routinely translate audio and video into 29 languages, whereas preserving the voice and feelings of the unique speaker.
Moreover, ElevenLabs will quickly increase the Turbo and Speech-to-Speech fashions, at the moment out there in English, to a broader vary of languages.
Thought behind ElevenLabs
ElevenLabs was based in 2022 by childhood greatest mates – Mati Staniszewski with expertise at Palantir Applied sciences and Piotr Dabkowski, a former machine studying engineer from Google. Impressed by the mediocre dubs of American movies they watched rising up of their native Poland, the pair got down to design an AI platform.
Headquartered within the US with an workplace in London, the AI audio startup works with the mission to make content material universally accessible in any language and in any voice and has now attracted greater than 1 million registered customers throughout artistic, leisure and publishing areas.
ElevenLabs can convert textual content into speech utilizing artificial voices, cloned voices, or fully new synthetic voices that mimic the sounds of individuals of various genders, ages, and ethnicities. The corporate’s AI text-to-speech fashions enable enterprise clients to refine them and construct their very own customized speech fashions.
Piotr Dabkowski, CTO and co-founder of ElevenLabs, stated: “Our group’s dedication has already had a long-lasting impression on voice AI. This new funding will allow us to tackle even higher challenges and concentrate on sustaining our aggressive place in analysis and product growth.”
Mati Staniszewski, CEO and co-founder of ElevenLabs added: “Our ambition stays the identical: to remodel the best way we work together with content material by breaking language and communication obstacles. We construct cutting-edge expertise to make content material accessible in numerous languages (and voices) so everybody can hook up with info and tales that matter. Our progress up to now is a testomony to our devoted group and buyers, and whereas it’s only the start of our journey, collectively we’re serving to form the way forward for accessibility and communication.”
The Submit-Gen AI Voice Unicorn: ElevenLabs Raises $80M in Sequence B at 1B Valuation, Andreessen Horowitz Leads the Spherical appeared first on Tech Funding Information.