Venture capital firm Activate has acquired a stake in ElevenLabs, marking its first global growth-stage AI investment, announced in 2026.
ElevenLabs is a New York-based voice AI company that has identified India as a key market. India currently ranks as ElevenLabs’ second-largest market globally, reflecting the company’s rapid growth trajectory.
As part of the investment, Activate will partner with ElevenLabs in India to strengthen enterprise relationships. The firm will also offer early-stage Indian startups access to ElevenLabs’ voice infrastructure, positioning the partnership as a resource for the broader Indian startup ecosystem.
The deal underscores India’s growing importance in the global voice AI landscape, with ElevenLabs’ market position in the country appearing to have driven strategic interest from Activate in establishing a deeper local presence through the partnership.
Source: Tech-Economic Times