# ElevenLabs recently closed Series D funding round that valued it at $11 billion.

*genai · news · 2026-05-14 · Moneycontrol*

## Key points

- Activate invested in ElevenLabs' Series D round at an $11 billion valuation.
- Activate used a separate strategic vehicle for this deal, not its core early-stage fund.
- Activate will support ElevenLabs' expansion and developer ecosystem in India specifically.
- India is already ElevenLabs' second-largest market globally by revenue.
- This is Activate’s first growth-stage investment since its launch earlier this year.

**Companies:** Nvidia, BlackRock, Activate, ICONIQ Capital, Andreessen Horowitz, ElevenLabs
**Countries:** India

[Read the full story on Moneycontrol](https://www.moneycontrol.com/news/business/funding/ai-fund-activate-invests-in-voice-ai-firm-elevenlabs-at-11-billion-valuation-13918500.html)

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