AI is so hot that top-tier funds are fighting to back tiny seed-stage startup ElevenLabs at valuation of around $100 million, sources say
Ex-GitHub CEO Nat Friedman, a16z, and investor Daniel Gross have led a seed round in a buzzy AI startup, sources say.The deal is testament to the hype that surrounds AI startups following the release of ChatGPT last year.
London-based ElevenLabs, founded by Google and Palantir alumni, uses AI to transfer text into realistic spoken word and raisedNow, the startup is set to raise new funds again, in part due to its rapid growth in revenue, four investors familiar with the matter said. Friedman co-led the round, expected to be around $18 million, alongside Daniel Gross, an early investor in the likes of Uber, Coinbase, and Figma, the investors said.
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