Poland Invests $11m in ElevenLabs to Develop Polish AI Hub
The venture bet aims to keep Polish AI talent at home as ElevenLabs weighs a Warsaw dual listing and expands its local headcount.
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5 Articles
Poland invests $11m in ElevenLabs to develop Polish AI hub
Keep our news free from ads and paywalls by making a donation to support our work! Notes from Poland is run by a small editorial team and is published by an independent, non-profit foundation that is funded through donations from our readers. We cannot do what we do without your support. Poland’s National Development Bank (BGK) has invested $11 million (just over 40 million zloty) in ElevenLabs, a major AI firm that has its roots in Poland. The …
Poland takes an $11M stake in ElevenLabs
Poland produced one of the world’s most valuable AI companies almost by accident. Now it is spending public money to make sure the next one stays closer to home. Vinci, the venture arm of Poland’s state development bank BGK, has taken an $11mn stake in ElevenLabs, the AI-voice firm valued at $11bn. The same day, […] This story continues at The Next Web
ElevenLabs is, in a sense, setting foot in Poland, which will serve as a magnet for other companies and people working in this sector, says Jakub Jaworowski, Vice President of BGK, to Business Insider Polska about the bank's involvement in the technology company's shareholding. The goal is to build an AI hub in Poland. Mati Staniszewski from ElevenLabs and experts explain the barriers Poles must overcome to achieve this goal.
Polish state-owned bank BGK, through its Vinci fund, invested $11 million (approximately 42 million zlotys) in ElevenLabs, a global leader in generative AI audio. This investment is part of the startup's expanded Series D round, which has already included Sequoia, Nvidia, and BlackRock. The main goal of the new deal is not financial: ElevenLabs will help build a large-scale technology center in Poland, AI Lab Poland.
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