Scaleup Europe Fund in talks to invest in AI voice startup ElevenLabs

The Scaleup Europe Fund, managed by EQT, is in negotiations to invest in the UK-based AI voice startup ElevenLabs, which is seeking to raise over $500 million. ElevenLabs, which uses AI to generate realistic voices for various commercial applications, previously held discussions for a secondary market sale at a $22 billion valuation, following a previous round at $11 billion. Negotiations are ongoing and may not result in a deal.