Poland Invests $11M in AI Firm ElevenLabs to Boost Homegrown Tech
Poland's state development bank has invested $11 million in ElevenLabs, a $11 billion AI-voice firm, to support the country's early-stage AI startups and formally claim the success of a homegrown tech champion. The investment aims to funnel funding, mentoring, and global contacts to Polish AI startups through the newly launched AI Lab Poland programme.
Key points
- Poland's state development bank, BGK, has taken an $11 million stake in ElevenLabs, a $11 billion AI-voice firm.
- ElevenLabs was founded in 2022 by two Warsaw-born friends, Mati Staniszewski and Piotr Dąbkowski.
- The investment aims to support Poland's early-stage AI startups through the newly launched AI Lab Poland programme.
- ElevenLabs plans to lift its Warsaw headcount past 200, from 60 today, with the investment.
- The move is seen as a sovereignty play, with Europe debating dependence on AI firms headquartered abroad.
Poland's state development bank, BGK, has made a significant investment in ElevenLabs, a $11 billion AI-voice firm. The $11 million stake is a strategic move to support the country's early-stage AI startups and formally claim the success of a homegrown tech champion.
The investment aims to funnel funding, mentoring, and global contacts to Polish AI startups through the newly launched AI Lab Poland programme. ElevenLabs was founded in 2022 by two Warsaw-born friends, Mati Staniszewski and Piotr Dąbkowski, and has since grown to serve about 100 million users in more than 70 languages.
The move is seen as a sovereignty play, with Europe debating dependence on AI firms headquartered abroad. By investing in ElevenLabs, Poland is taking a step towards reducing its reliance on foreign tech companies and promoting the growth of its own AI industry.
The investment is also expected to boost Poland's AI ecosystem, with ElevenLabs planning to lift its Warsaw headcount past 200, from 60 today. The company has already gained significant traction, with customers including Salesforce and Adobe, and is headquartered abroad.
The timing of the investment is not coincidental, as Europe is in the middle of an anxious debate about depending on AI firms headquartered abroad. Poland's move is seen as a bold step towards promoting its own tech industry and reducing its dependence on foreign companies.
Sources
The WireByte editorial team synthesises technology news from multiple primary sources, verifies the facts, and links every source. Articles are produced with AI assistance and reviewed under our editorial policy.