UK-based ElevenLabs, a leading AI voice generation startup, is in early discussions to raise a strategic funding round that could value the company at nearly $11 billion, according to the Financial Times.

The deal, if completed, would nearly double ElevenLabs’ valuation from its last secondary sale — highlighting strong investor interest in generative audio and speech synthesis technologies. The company has rapidly grown recurring revenue and is backed by prominent venture firms including Sequoia, Andreessen Horowitz, and NEA. ElevenLabs’ realistic voice models are increasingly used in services ranging from media dubbing to customer support automation.

Material by Yana Petrova

Image: ElevenLabs