Venture capital firm Activate has made its first global growth-stage AI investment in ElevenLabs, a New York-based voice AI company, with a strong focus on expanding its presence in the Indian market.
Why it matters
This investment highlights the increasing investor confidence in specialized AI applications like voice AI, particularly in rapidly expanding markets such as India. It signifies the growing maturity and market adoption of AI technologies beyond foundational models, indicating a trend towards leveraging AI for specific industry solutions and global market penetration. For India, it means increased access to advanced AI infrastructure and potential for local startups.
A venture capital firm called Activate just made its first major global investment in ElevenLabs, a US company that creates advanced AI voices. India is a huge market for ElevenLabs, so Activate will help them grow there, connecting them with businesses and offering their AI voice tools to new Indian startups.
Venture capital firm General Catalyst's ad for a fictional AI robot dog, 'Woof AI,' has sparked debate among tech investors, including Marc Andreessen, who criticized it as 'condescending' despite acknowledging its cleverness.
Read on Economic Times Tech →US chip startup Cerebras Systems is preparing for its IPO, aiming to raise $5.5 billion and valuing the company at over $55 billion. The company specializes in wafer-scale processors essential for AI development.
Read on Economic Times Tech →Rivian spinoff Mind Robotics has raised an additional $400 million, bringing its total funding to over $1 billion. The company is focused on AI-powered robotics.
Read on TechCrunch →