ElevenLabs bets big on India with $100 million revenue goal, major hiring push

ElevenLabs is setting its sights on generating over $100 million in revenue from the Indian market, simultaneously ramping up its hiring efforts and strengthening local partnerships. This move highlights India's rapid ascent as a major player in the AI voice technology sector. Carles Reina, who oversees the company's market strategies, expressed in a recent interview, "Our objective is to exceed $100 million in revenues from India alone, and we're looking to hire 100 new employees very soon." The recruitment will encompass various roles as the firm aims to expand its presence across multiple industries. Reina noted, "We’re hiring across engineering, market strategies, research, and more," underscoring the company's commitment to enterprise deployments. India has swiftly evolved into a pivotal market for ElevenLabs, now recognized as its second-largest enterprise base globally, driven by a strong demand from sectors such as banking, e-commerce, telecommunications, and technology. Reina remarked, "The first team arrived two years ago, and India quickly became our second-largest enterprise market." To spearhead its initiatives in India, ElevenLabs appointed Karthik Rajaram as General Manager and Country Head earlier this year. His focus will be on enhancing market strategies and driving revenue growth while fostering partnerships within both enterprise and media sectors. Reina described the company's approach as that of a "global hyper-local entity," emphasizing that ElevenLabs operates as an India-centric company catering to Indian customers. The Indian team will not only serve local interests but will also extend its reach to Southeast Asia, marking the country as a strategic hub for regional expansion. In terms of global clientele, ElevenLabs boasts partnerships with renowned firms like Cisco, Epic Games, Adobe, and NVIDIA. In India, its local team has collaborated with companies such as Meesho, Apna, and TVS Motor to implement voice agents that facilitate customer engagement and support efficiently. The technology is particularly advantageous for businesses managing high call volumes or multilingual communications, a common requirement in India's diverse market landscape. Reina emphasized that the company’s focus on creating emotionally resonant voices and providing rapid responses sets it apart from lower-cost alternatives. He pointed out that flat, robotic-sounding AI often leads users to prefer human interaction, stating, "If a caller realizes they're speaking to a robotic agent, they typically say, 'I need to talk to a human.' We strive to prevent that reaction." In light of emerging competition from Indian startups like Sarvam AI, Reina acknowledged the intensified rivalry but asserted that superior research and user experience would ultimately drive long-term success. He differentiated between basic voice models and those engineered for human-like interactions at an enterprise level. As the company gears up for substantial growth, it is also addressing concerns regarding job losses due to AI automation, particularly in call centers. Reina remains optimistic, stating, "I believe the opportunities in India are immense. We have a large, well-educated population with strong technical skills. Investing now is crucial to unlocking future potential." Beyond its commercial aspirations, ElevenLabs is committed to social responsibility through its "Impact Programme," which aims to assist individuals who have lost their voices in regaining communication abilities via AI technology. Recently, the company partnered with Bridging Voice and The Scott-Morgan Foundation to help those affected by conditions like ALS and MND, offering free access to its voice cloning and text-to-speech technologies. In a country characterized by a vast population, linguistic diversity, and a flourishing digital economy, India represents a critical battleground for AI firms developing voice-first systems. Reina concluded, "We aim to cover all 22 official languages and delve deeper into regional variations to connect with the entire population."