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Polands National Development Bank Invests $11 Million in Voice-AI Startup ElevenLabs to Build AI Hub
On 17 June 2026, the National Development Bank (BGK) announced a $11 million investment in ElevenLabs, a U.S.‑based voice‑generation company founded by Polish entrepreneurs. The capital will flow through Vinci, BGK’s venture arm that manages assets exceeding 1 billion zloty.
BGK said the funding will help finance the construction of AI Lab Poland, a national centre designed to bring together researchers, investors and developers. Bank president Mirosław Czekaj highlighted the potential for a significant multiplier effect, noting that the investment could launch projects worth hundreds of millions of zloty.
ElevenLabs was founded in 2022 by Mati Staniszewski and Piotr Dąbkowski, who met as teenagers in Warsaw. The company now operates from its New York headquarters with additional offices in London and Warsaw. In February 2026, ElevenLabs raised a round that valued it at $11 billion. Its client roster includes Spotify, for which it supplies AI‑generated audiobook narration, and Meta, where it provides dubbing and character voices for Instagram.
According to ElevenLabs, the new AI hub will harness the energy and ambition seen at the ElevenLabs Warsaw Summit earlier this month, an event attended by leading Polish tech figures as well as President Karol Nawrocki and defence minister Władysław Kosiniak‑Kamysz. Polish finance minister Andrzej Domański framed the investment as a step toward making Poland a cradle for future technologies, adding that “the future will belong to those who create it.”
The firm specialises in near‑human‑level speech synthesis, with its models deployed for dubbing, conversational AI assistants and business applications such as sales and customer service.
Poland has historically lagged in AI adoption. Eurostat data released last year showed the country had the European Union’s second‑lowest proportion of companies using AI tools. In response, the Polish government launched a 1 billion‑zloty investment plan that includes the creation of a state‑backed large‑language‑model.
Microsoft president Brad Smith, in a 2024 speech, encouraged global tech firms to invest in Poland, calling it “the place to grow your business” and suggesting the country could become an “AI Valley.”
This marks the first time a Polish institutional investor has taken a stake in ElevenLabs; the stake size was not disclosed.
The move is part of a broader effort to build an AI ecosystem capable of competing with other European hubs. By funding a dedicated research centre and partnering with a high‑profile AI company, the government hopes to attract further investment and talent.
ElevenLabs’ founders have expressed optimism that the new centre will nurture AI talent in Poland. The company’s CEO said the initiative would help the country become one of the main AI centres for the next decade.
The announcement comes amid a wave of high‑valuation funding for AI startups and a global push for governments to position themselves as technology leaders. The partnership between a state‑owned bank and a private AI firm illustrates how public‑private collaboration can accelerate the growth of emerging tech sectors.
As the AI Lab Poland project moves forward, observers will monitor how the centre’s research agenda aligns with the needs of Polish industry and how the investment influences the country’s overall AI adoption rate.
The investment also signals to other European nations that Poland is willing to support high‑tech companies with capital and infrastructure, potentially attracting additional venture capital and corporate partnerships.
In summary, BGK’s $11 million investment in ElevenLabs is intended to fund a national AI development centre, strengthen Poland’s position in the AI sector, and support the growth of a company that has already achieved a high valuation and significant corporate partnerships.
The outcome of this initiative will be measured by the establishment of the AI Lab Poland, the number of projects launched, and the extent to which Polish companies adopt AI tools in the coming years.
BGK said the funding will help finance the construction of AI Lab Poland, a national centre designed to bring together researchers, investors and developers. Bank president Mirosław Czekaj highlighted the potential for a significant multiplier effect, noting that the investment could launch projects worth hundreds of millions of zloty.
ElevenLabs was founded in 2022 by Mati Staniszewski and Piotr Dąbkowski, who met as teenagers in Warsaw. The company now operates from its New York headquarters with additional offices in London and Warsaw. In February 2026, ElevenLabs raised a round that valued it at $11 billion. Its client roster includes Spotify, for which it supplies AI‑generated audiobook narration, and Meta, where it provides dubbing and character voices for Instagram.
According to ElevenLabs, the new AI hub will harness the energy and ambition seen at the ElevenLabs Warsaw Summit earlier this month, an event attended by leading Polish tech figures as well as President Karol Nawrocki and defence minister Władysław Kosiniak‑Kamysz. Polish finance minister Andrzej Domański framed the investment as a step toward making Poland a cradle for future technologies, adding that “the future will belong to those who create it.”
The firm specialises in near‑human‑level speech synthesis, with its models deployed for dubbing, conversational AI assistants and business applications such as sales and customer service.
Poland has historically lagged in AI adoption. Eurostat data released last year showed the country had the European Union’s second‑lowest proportion of companies using AI tools. In response, the Polish government launched a 1 billion‑zloty investment plan that includes the creation of a state‑backed large‑language‑model.
Microsoft president Brad Smith, in a 2024 speech, encouraged global tech firms to invest in Poland, calling it “the place to grow your business” and suggesting the country could become an “AI Valley.”
This marks the first time a Polish institutional investor has taken a stake in ElevenLabs; the stake size was not disclosed.
The move is part of a broader effort to build an AI ecosystem capable of competing with other European hubs. By funding a dedicated research centre and partnering with a high‑profile AI company, the government hopes to attract further investment and talent.
ElevenLabs’ founders have expressed optimism that the new centre will nurture AI talent in Poland. The company’s CEO said the initiative would help the country become one of the main AI centres for the next decade.
The announcement comes amid a wave of high‑valuation funding for AI startups and a global push for governments to position themselves as technology leaders. The partnership between a state‑owned bank and a private AI firm illustrates how public‑private collaboration can accelerate the growth of emerging tech sectors.
As the AI Lab Poland project moves forward, observers will monitor how the centre’s research agenda aligns with the needs of Polish industry and how the investment influences the country’s overall AI adoption rate.
The investment also signals to other European nations that Poland is willing to support high‑tech companies with capital and infrastructure, potentially attracting additional venture capital and corporate partnerships.
In summary, BGK’s $11 million investment in ElevenLabs is intended to fund a national AI development centre, strengthen Poland’s position in the AI sector, and support the growth of a company that has already achieved a high valuation and significant corporate partnerships.
The outcome of this initiative will be measured by the establishment of the AI Lab Poland, the number of projects launched, and the extent to which Polish companies adopt AI tools in the coming years.
