Polish startup ElevenLabs secures funding from Nvidia
Tech giant Nvidia has announced an investment in ElevenLabs, a Polish startup developing generative AI audio technology. Founded in 2022 by Piotr Dąbkowski and Mati Staniszewski, the company specializes in text-to-speech and speech-to-text solutions.
Nvidia has not disclosed the financial details of the transaction, but the investment in ElevenLabs aligns with the company’s broader strategy in the UK. The tech conglomerate plans to allocate GBP 2 billion to support AI startups and is preparing further investments worth up to GBP 11 billion in so-called “AI factories.”
ElevenLabs’ solutions are based on AI models trained on Nvidia graphics processors. The startup’s products enable the generation of naturally sounding voices in 32 languages and are used in the media, publishing, and education sectors.
“Whenever my voice is used via artificial intelligence, I use the ElevenLabs platform. I truly appreciate your solutions,” said Jensen Huang, Nvidia’s CEO, during the announcement alongside Staniszewski.
According to Time magazine, ElevenLabs’ valuation in 2024 was estimated at $3.3 billion, a threefold increase compared to the previous year.
“We are pleased to announce that NVIDIA is investing in ElevenLabs with the support of Jensen Huang. Last week, a visit by US government representatives to the UK strengthened AI ties. With our increasingly deep roots in both countries, the partnership and discussions were a perfect culmination of these events,” Mati Staniszewski, ElevenLabs co-founder, wrote on platform X.
