ElevenLabs’ €424 million raise values the company at €9.3 billion and marks one of Europe’s largest AI funding rounds this year

**ElevenLabs Secures Landmark Funding, Highlighting European AI Ambition** London-based AI company ElevenLabs has achieved a significant milestone with its €424 million Series D funding round, valuing the company at €9.3 billion. This substantial investment, led by Sequoia Capital, more than triples its valuation from the previous year and underscores the growing confidence in European AI innovation, particularly in the realm of advanced voice and audio technologies. The round's scale positions ElevenLabs as a major player within the European tech landscape and highlights its trajectory toward becoming a foundational AI company. The company, founded in 2022, has rapidly evolved from developing human-like AI text-to-speech capabilities to building foundational models across the entire audio stack, including transcription, music generation, dubbing, and conversational AI. This broad application of AI technologies, supported by a world-leading research team, demonstrates ElevenLabs' commitment to pushing the boundaries of what is possible in AI-driven audio experiences. The significant capital raised will likely fuel further research and development, enabling the company to optimize its products and redefine industry benchmarks. This funding round stands in contrast to many other recent European AI investments, which have typically focused on earlier-stage, more specialized applications. While startups like Polaron, Ranketta, Redpine, and Jam have secured funding for niche AI solutions in materials science, brand presence measurement, AI hallucination mitigation, and marketing automation, ElevenLabs' massive raise signifies a move towards large-scale, multimodal AI platform development within Europe. This divergence highlights ElevenLabs' unique position and its potential impact on broader digital transformation efforts.