Voice AI company ElevenLabs has raised $500 million in a funding round led by Sequoia Capital, TechCrunch reported on Feb. 4.
Existing investors a16z and ICONIQ also participated in the funding. New investors included Lightspeed Venture Partners, Adventic Capital and BOND.
In the funding round, ElevenLabs was valued at $11 billion. That is more than triple the valuation in a funding round completed in January last year.
ElevenLabs plans to use the funds for research and development and to expand in global markets including India, Japan, Singapore, Brazil and Mexico. Co-founder Mati Staniszewski (마티 스타니셰프스키) said, "This investment will be used to accelerate development of creative agents that go beyond voice AI to integrate video."
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