British AI startup ElevenLabs is eyeing a seed funding round of $18M, two months after it raised a $2M pre-seed funding led by Credo Ventures.

 

British AI startup ElevenLabs is eyeing a seed funding round of $18M, two months after it raised a $2M pre-seed funding led by Credo Ventures.   Andreessen Horowitz and former GitHub CEO Nat Friedman are reportedly set to lead the current round. Negotiations for the round are ongoing. The firm's post-money valuation is reported to be $100M, according to sources. ElevenLabs is developing an AI-powered text-to-speech platform. Many European investors reportedly attempted to participate in the present investment but were unsuccessful. ElevenLabs was established by former Palantir executive Mati Staniszewski and former Google executive Piotr Dabkowski.  Staniszewski and Dabkowski are the startup's CEO and CTO, respectively.  ElevenLabs is capitalizing on its revenue growth and the heightened investor interest in the generative AI sector to secure funding from investors. Crunchbase data shows that AI startups have secured $11.7B in VC funding so far this year.