Artificial intelligence voice technology company ElevenLabs plans to invest hundreds of millions of dollars in India as it expands its workforce, develops new AI models and strengthens support for Indian languages.
Co-founder Mati Staniszewski announced the investment Tuesday, although the London-based company did not disclose the exact amount it plans to spend.
The move reflects India’s growing importance to the global artificial intelligence industry, with several major technology companies increasing their investments and operations in the country.
ElevenLabs, which was founded in 2022 and reached a valuation of $22 billion in September, is also considering potential acquisitions in India as part of its expansion strategy.
The company specializes in AI-powered voice technology capable of converting text into speech and performing automated tasks ranging from processing refunds and renewing insurance policies to scheduling appointments.
ElevenLabs already has a significant presence in the Indian market. Its customers include education technology company Physicswallah, electrical equipment manufacturer Havells and financial technology firm Razorpay.
According to Karthik Rajaram, ElevenLabs’ general manager and country leader for India, the company has worked with approximately 250 enterprises in the region. Its technology is also being used for about 100 million AI-agent conversations annually across 14 Indian languages.
The planned investment will be directed toward expanding ElevenLabs’ local workforce, developing AI models and improving its technology for India’s diverse languages.
The company also announced a partnership with the Karnataka government aimed at using voice AI to make public services more accessible. The initiative will include AI-powered voice restoration technology designed to assist people who are unable to speak.
ElevenLabs’ expansion comes as international technology companies increasingly invest in India’s AI sector. OpenAI and Anthropic have expanded their presence in the country, while Amazon, Microsoft and Google have made multibillion-dollar commitments toward AI, cloud computing and data-centre infrastructure.
ElevenLabs is backed by major investors including Nvidia, Wellington Management, T. Rowe Price, Andreessen Horowitz, Lightspeed, EQT and Goldman Sachs.
Company officials say India’s combination of market size, linguistic diversity and growing developer ecosystem makes the country an increasingly important part of ElevenLabs’ global expansion strategy.
