The ElevenLabs plans to invest “hundreds of millions of dollars” in India to expand its operations, develop artificial intelligence models adapted to the local market and strengthen support for Indian languages. The plan was confirmed to Reuters by co-founder Mati Staniszewski on Tuesday (6).
The company did not disclose the exact amount or the timeline. The funds will be allocated to hiring local teams, developing models and expanding into Indian languages. ElevenLabs is also open to acquisitions in the country, although possible targets have not been identified.
India has already gained importance within the company's global operation. ElevenLabs works with 250 companies in the region, totaling about 100 million annual conversations with AI agents in 14 Indian languages, according to Karthik Rajaram, who is responsible for local operations.
Among the clients are PhysicsWallah, Havells and Razorpay. India has also become ElevenLabs' largest market outside the United States, with applications in customer service, payments, education and other services.
India gains ground in ElevenLabs' expansion
The company also signed a partnership with the government of the state of Karnataka to explore voice AI in public services and in voice restoration technologies for people who have lost the ability to speak.
The expansion comes a few days after ElevenLabs reached a valuation of US$ 22 billion in a US$ 300 million offer to buy employee shares. The amount represents double the valuation recorded in the February Series D round.
Founded in 2022, the company develops voice generation and comprehension models used in audio production and AI agents. With the new investment, India now occupies a more prominent position both as a market and as a base for the development and deployment of the technology.
