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AI voice cloning startup ElevenLabs raises $250M in Series C funding round - SiliconANGLE

Jan 27, 2025 - siliconangle.com
ElevenLabs, an AI voice cloning startup, has raised $250 million in a Series C funding round, valuing the company between $3 billion and $3.3 billion. The round was led by ICONIQ Growth with participation from Andreessen Horowitz. ElevenLabs offers a cloud-based platform for generating synthetic speech, with applications in dubbing, audiobooks, and movie narration. The platform can clone voices from a one-minute audio sample and translate them into over two dozen languages while preserving the original speaking style and tone. The company has faced controversy, notably with the unauthorized use of the late French actor Alain Dorval's cloned voice, leading to criticism from his family.

Despite the controversy, ElevenLabs continues to expand its customer base, which includes Synthesia, the Washington Post, HarperCollins, and various video game developers. The company competes with startups like Deepdub and industry giants such as OpenAI and Google. ElevenLabs provides its technology through an API with multiple pricing tiers, allowing users to fine-tune dubbed and cloned voices for clarity and style. The startup recently demonstrated its capabilities by translating an interview with Ukrainian President Volodymyr Zelenskyy into multiple languages while retaining the original speaker's voice characteristics.

Key takeaways:

  • ElevenLabs raised $250 million in a Series C funding round, valuing the company between $3 billion and $3.3 billion.
  • The startup's AI platform can generate synthetic speech and clone voices, with applications in dubbing, audiobooks, and more.
  • ElevenLabs faced controversy for using the cloned voice of late French actor Alain Dorval without his family's final approval.
  • Customers of ElevenLabs include Synthesia Ltd., the Washington Post, HarperCollins Publishers LLC, and various video game developers.
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