With a 50% increase in usage between November and January, India has become the market with the greatest rate of growth for ElevenLabs, a company that develops AI speech technology. The nation’s multilingual landscape and growing need for top-notch voice translation have made it a top priority for the business.
“India is now our highest user market globally,” said Siddharth Srinivasan, GTM of India at ElevenLabs. “We are seeing strong adoption because of the multilingual, multicultural nature of the country.”
ElevenLabs, which was founded only two years ago, raised $180 million in its most recent fundraising round and is already a unicorn. ElevenLabs, which prioritizes research, has expanded from five people to 150, with a growing presence in India.
“We are a research company at heart, and a lot of our investment is going into improving our core technology and building enterprise-ready products,” Srinivasan said.
Prime Minister Narendra Modi’s interview with Lex Fridman was dubbed by ElevenLabs, which garnered media attention. The authenticity of the AI-powered vocal imitation received a lot of attention. In the past, the business has provided AI voice dubbing services to international leaders including Volodymyr Zelenskyy and Javier Milei.
Their goal is to make information more widely available while maintaining the integrity of unique voices. “We pride ourselves on having the best voice technology on the planet,” Srinivasan noted.
According to NASSCOM, the AI voice industry is expected to develop significantly and reach $1.82 billion by 2030. With Internet behemoths like Google and OpenAI investing in this field, competition is intensifying. The business has previously teamed up with well-known organizations like Qube Cinema to improve movie accessibility and Star Cricket to provide sports commentary in Indian languages. The business just released Scribe, a speech-to-text application with exceptional accuracy that is accessible in 11 Indian languages.
ElevenLabs is concentrating on innovation and broadening its scope in the future. To keep its technology at the forefront, the corporation intends to keep funding AI research and product development.
Srinivasan emphasized the company’s solid business plan and dedication to the Indian market, even if sales projections are yet unknown.“We are well-capitalised and investing deep in India,” he said.
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