Voice Cloning AI Startup ElevenLabs Captures $19M Investment from a16z and Industry Titans
June 20 2023
AI startup ElevenLabs, founded by former Google and Palantir employees, has raised $19 million in a series A funding round co-led by Andreessen Horowitz, former Github CEO Nat Friedman, and former Apple AI leader Daniel Gross. The company focuses on text-to-speech and voice cloning tools and plans to develop ultra-realistic models for various industries. Their current products include Speech Synthesis, VoiceLab, and the AI Speech Classifier. ElevenLabs aims to dissolve language barriers and responsibly reach all audiences, with over a million creators and developers already using their technology.
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What does it mean?
- Series A funding round: a stage in the process of raising capital for a startup company, typically characterized by significant participation from large investors, such as venture capital firms.
- Andreessen Horowitz: a prominent venture capital firm that invests in technology companies, founded by Marc Andreessen and Ben Horowitz.
- Palantir: a software company that specializes in big data analysis, providing services to governments, businesses and other organizations.
- Text-to-speech: a technology that allows a computer to read written text aloud, converting it into spoken words.
- Voice cloning: a technology that allows the creation of synthetic voices that sound like a specific individual's voice, typically using artificial intelligence techniques.
- Speech Synthesis: the process of generating artificial speech, usually by converting text to audible speech using computer algorithms.
- AI Speech Classifier: a machine learning tool that uses artificial intelligence to analyze and categorize spoken language, identifying patterns and features within the speech input.