Poland invests in ElevenLabs and opens AI Lab Poland

Poland’s state bank BGK invests $11M in ElevenLabs via Vinci to launch AI Lab Poland, a joint hub boosting local startups toward international markets.

The Polish state becomes a shareholder in ElevenLabs. The operation is conducted through Vinci, the investment vehicle of the state development bank BGK, which takes a minority stake in the AI-generated voice company, as part of an extension of its Series D round. Vinci thus becomes the company's first Polish institutional investor and joins funds like Andreessen Horowitz, Sequoia, or ICONIQ. The amount, approximately eleven million dollars (around forty million zlotys), remains modest given ElevenLabs' valuation, which is around eleven billion dollars: the Polish Minister of Finance himself described it as a strategic partnership rather than a financial transaction.

At the heart of the agreement is AI Lab Poland: a joint initiative bringing together capital, technology, science, and talent, designed to help Polish AI startups target international markets from the outset. Several local players are already involved, from LOT Polish Airlines to InPost, as well as the University of Warsaw.

Founded by two Warsaw-born friends, Mati Staniszewski and Piotr Dąbkowski, ElevenLabs intends to strengthen its Polish roots and expand its local workforce. Management also mentions an IPO within two to three years, possibly accompanied by a listing in Warsaw.