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ElevenLabs Raises $80 Million for AI Voice Cloning Projects

Voice technology firm ElevenLabs’ value has topped $1 billion after its latest funding round

The company announced its $80 million Series B Monday (Jan. 22), saying the funds would be used for — among other things — deploying new products and improving safety measures to “ensure responsible and ethical development of AI technology.”

While ElevenLabs did not include a specific valuation in its announcement, it said it had reached “unicorn” status, a term for a private company valued at more than $1 billion. Mati Staniszewski, the firm’s CEO, told Bloomberg News the exact figure is $1.1 billion.