ElevenLabs, a startup developing AI-based voice cloning technologies, has signed an investment agreement with Nvidia as part of a strategic partnership. The financial details of the deal have not been disclosed.
Founded by former Google engineer Piotr Dąbkowski and former Palantir strategist Mati Staniszewski, ElevenLabs offers a range of voice-related products. The startup works on technologies such as text-to-speech, speech-to-text, voice cloning, AI dubbing, and voice isolation.
Their tools, including Voice Library, VoiceLab, and AI Dubbing Studio, allow users to create content while preserving the original voice tone and emotional expressions. These technologies are widely used across audiobooks, podcasts, video content, and virtual assistants.
In January 2025, ElevenLabs raised $180 million in investment, increasing its valuation to $3.3 billion. Recently, the startup enabled employee share sales, raising its valuation to $6.6 billion and reporting an annual recurring revenue of $200 million.
Investors in the startup include well-known funds such as Andreessen Horowitz and Sequoia. Since ElevenLabs runs its AI models on Nvidia GPUs, Nvidia’s investment carries strategic significance.
ElevenLabs CEO Mati Staniszewski emphasized that the investment is more strategic than financial. He stated, “We need strategic partners. Nvidia brings not only funding but also deep expertise with their GPUs. That’s why this investment is strategically important to us, more than financially.” He added that the startup does not currently need additional capital and is focused on choosing partners with whom they can build the next decade.
Nvidia CEO Jensen Huang had previously mentioned some startups supported under the company’s £2 billion UK startup investment program, including Wayve, Revolut, PolyAI, Synthesia, Latent Labs, and Basecamp Research, but ElevenLabs was not initially listed. Later, Huang highlighted ElevenLabs as one of the most notable AI startups in the UK.
