"ElevenLabs: AI Voice-Cloning Startup Reaches $1.1 Billion Valuation with $80M Funding"

ElevenLabs, a voice cloning startup, has raised $80 million in a Series B round, reaching unicorn status with a valuation of over $1 billion. The company plans to use the funds for product development, expanding infrastructure and team, AI research, and enhancing safety measures. Despite its success, ElevenLabs has faced criticism for misuse of its tools, including generating hateful messages and concerns about the impact on the voice acting industry. The company is also working on a marketplace for voices, aiming to harmonize AI advancements with established industry practices while compensating voice creators.