Activate invests in $11 billion ElevenLabs to deepen India ties
Activate, a venture capital firm, just made its first big move in AI by investing in ElevenLabs, a New York-based voice AI company now valued at $11 billion.
This deal is all about helping ElevenLabs grow deeper roots in India, which is already its second-biggest market and a major source of revenue.
Indian startups could access ElevenLabs tools
With Activate on board, early-stage Indian startups could get special access to ElevenLabs's advanced voice AI tools.
Aakrit Vaish from Activate put it simply, "The investment in ElevenLabs is strategic in nature as it will be a way for us to partner with them to see how we can help the voice AI startup ecosystem here," and give India's startup scene a real boost.
Earlier this year, ElevenLabs also raised $500 million from top investors and Activate teamed up with NVIDIA, so there's a lot of momentum behind making India an even bigger part of the global AI conversation.