PE-VC Fund Investments
VC firm Activate invests in US-based voice-tech platform ElevenLabs
Mumbai-based venture capital firm Activate has invested in New York (USA)-based growth-stage voice AI company ElevenLabs . The financing round was led by ICONIQ Capital and Andreessen Horowitz, with additional backing from Nvidia and BlackRock. The investment by Aakrit Vaish and Pratyush Choudhury, who founded Activate, was facilitated through a separate vehicle backed by its limited partners and sponsors. The AI-focused Activate will now serve as a strategic venture partner for ElevenLabs in India to bolster enterprise relationships and provide local early-stage startups with access to its voice infrastructure.Founded by Mati Staniszewski, ElevenLabs provides a platform for various use cases across media, education, and e-commerce, and currently identifies India as its second-largest market by revenue. The company has reached a valuation of USD 11 Billion.
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