Voice AI company ElevenLabs secured $500 million in a new funding round led by Sequoia Capital, valuing the startup at $11 billion, according to a statement released by the company. The funding round saw existing investor Andreessen Horowitz (a16z) quadruple its investment amount, while Iconiq tripled its investment, according to ElevenLabs.
The company said Lightspeed Venture Partners, EvanticCapital, and Bon also joined the round as new investors. Sequoia partner Andrew Reed is joining the company's board.
A16z recently raised $1.7 billion for AI infrastructure investments, with ElevenLabs being one of its prominent AI investments, according to TechCrunch. Jennifer Li, general partner with the a16z infrastructure team, oversees investments in companies like ElevenLabs, Ideogram, and Fal.
In other AI-related developments, Tinder is testing a new AI-powered feature called Chemistry to combat "swipe fatigue," a problem among online dating users, TechCrunch reported. Match CEO Spencer Rascoff said the feature, currently being tested in Australia, uses AI to learn about users through questions and access to their Camera Roll, with user permission.
Roblox launched the open beta for its 4D creation feature, which allows creators to make interactive objects, the company announced Wednesday. According to Roblox, the feature adds interactivity, enabling users to design items that can move and react to players in the game. The company also stated that its Cube 3D tool, launched last year, has helped users generate over 1.8 million 3D objects.
Meanwhile, a hacking group known as ShinyHunters claimed responsibility for data breaches at Harvard University and the University of Pennsylvania (UPenn) and published the stolen data, TechCrunch reported. The group published what it claims are more than 1 million records from each university on its leak site. UPenn confirmed a data breach in November, attributing it to social engineering.
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