AI speech startup ElevenLabs to go for IPO within five years: Report
The startup's London office is still their biggest followed by New York, Warsaw, San Francisco, India and Bangalore.
In March, during an India tour, Siddharth Srinivasan said the country was their biggest market and Hindi was among the top three languages in terms of the content being generated by ElevenLabs.
The startup also supports between 11-12 Indian languages and has a local team based out of here.
Earlier in January this year, ElevenLabs raised $180 million in a funding round by Andreessen Horowitz, Sequoia Capital and ICONIQ Growth and companies like Salesforce and Deutsche Telekom. Post the fundraising, the AI audio startup was valued at $3.3 billion.
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First Post
22 minutes ago
- First Post
This Week in Explainers: Can India do without Russian oil amid Trump threats?
US President Donald Trump has threatened India with a 'penalty' for buying Russian crude. As bilateral trade talks continue, America has imposed a 25 per cent tariff on Indian imports. But what are India's options? All this and more in our weekly wrap read more India is staring at a 25 per cent tariff on its goods exported to the United States. Announcing higher rates for India than more than 50 other countries, President Donald Trump has also threatened New Delhi with a 'penalty' for buying Russian crude. The Indian government has confirmed that the three terrorists killed in Operation Mahadev were behind the Pahalgam terror attack. Hashim Musa, the reported mastermind of the April 22 massacre, was among those killed by Indian security forces in a joint operation this week. STORY CONTINUES BELOW THIS AD Nisar, an Earth-observation satellite built by India and the US, was launched into space. The mission will study minute changes on the Earth's surface. Here's all this and more in our weekly wrap from India. 1. The US imposed 25 per cent tariffs on Indian imports from August 1. American President Trump has been railing against India's 'high tariffs' and the massive trade deficit between the two countries. Trump's high tariffs against India come even as New Delhi and Washington continue to negotiate a bilateral trade deal. As the taxes on Indian goods imported to the US come into effect, Americans will face the brunt immediately. India's GDP could also take a hit. We take a look at the impact in this report. 2. Trump has threatened a 'penalty' tariff on India for buying Russian crude oil. The US president has so far failed to achieve a ceasefire between Russia and Ukraine. India has maintained a neutral stance in the war and continued to buy discounted fuel from Moscow despite pressure from the West. Russia accounted for just 0.2 per cent of India's imports of crude oil before the Ukraine war began in February 2022. Today, India is among the top buyers of Russian oil. How did this shift happen? And can India do without Russian crude? Here's our report. 3. The week that the Parliament held a discussion on Operation Sindoor, reports came that three terrorists who carried out the Pahalgam attack had been killed. Home Minister Amit Shah told the Parliament that those killed were indeed the Pahalgam attackers and this was established with the aid of forensic and ballistic tests. STORY CONTINUES BELOW THIS AD He also confirmed that all three terrorists were Pakistani citizens, who were killed in Operation Mahadev, a joint effort by the Indian Army, Jammu and Kashmir Police and Central Reserve Police Force (CRPF). The encounter between the security forces and the terrorists took place in the upper reaches of Dachigam Forest, which is in Srinagar's Harwan area. Read our report to know more. 4. Nisar, or Nasa-Isro Synthetic Aperture Radar, was launched into a 747 km sun-synchronous polar orbit this week. It lifted off from the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh, onboard Isro's GSLV Mk-II rocket. Weighing 2,392 kilos, Nisar was jointly developed by Isro and Nasa. It has two frequencies — Nasa's L-band and Isro's S-band, which will equip the mission to observe changes more accurately than any other satellite. Nisar will scan the globe every 12 days, providing detailed images of the Earth's surface. We take a look at what makes it special. STORY CONTINUES BELOW THIS AD 5. A special National Investigation Agency (NIA) court announced its verdict in the 2008 Malegaon blast case, acquitting all seven accused, including former BJP MP Pragya Singh Thakur and Lieutenant Colonel Prasad Purohit. The explosion near Bhikku Chowk in Maharashtra's Malegaon town had killed six people and injured 101 others. Pragya Singh Thakur has been acquitted in the Malegaon blast case. File Photo/PTI The Maharashtra Anti-Terrorism Squad (ATS) had arrested the accused nearly 17 years ago. However, all have been out on bail for years. The special NIA court has now acquitted all the accused. But why? Here's our detailed report. STORY CONTINUES BELOW THIS AD 6. An elderly woman accused of the murder of her husband had recently gone viral after her video defending herself in a courtroom with the help of science surfaced. Mamta Pathak, 65, made headlines again this week after the Madhya Pradesh High Court upheld her life sentence for killing her husband by electrocution. Dr Neeraj Pathak was found dead at his Loknathpuram house in Madhya Pradesh's Chhatarpur in April 2021. But how did the police arrest his wife, a former chemistry professor? Why did she murder her husband? Here's our story. This is all we have for you this week. If you like how we analyse news, you can bookmark this page. PS. In a highly rare pregnancy, the foetus of a woman in Uttar Pradesh is growing in her liver instead of the uterus. Read this report to know more.
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First Post
22 minutes ago
- First Post
Why India is a spoke in the Trump-Xi wheel
The emergence of India as a significant economic and military power is a complication in the G2 global power duopoly read more No one likes an impoverished former colony becoming the world's fourth-largest economy. At Independence in 1947, India had a minuscule GDP of Rs. 2.70 lakh crore. By the end of 2025, India's GDP is projected by the IMF to be Rs. 360 lakh crore ($4.19 trillion). This would make India not only the world's fourth-largest economy but also, at an annual growth rate of 6.5 per cent, the world's fastest-growing major economy. STORY CONTINUES BELOW THIS AD All of these rankles in two global capitals: Washington and Beijing. US President Donald Trump and Chinese President Xi Jinping are resigned to battling each other in a long, drawn-out Second Cold War. The emergence of India as a significant economic and military power is a complication in this G2 global power duopoly. Trump's punitive tariff rate of 25 per cent on Indian exports, along with an unspecified penalty for buying oil and military equipment from Russia, reflects Washington's angst. India's economy is still too small—one-fifth China's size and one-seventh America's—to be an immediate concern to either. But both know that, over the next decade, India will be the only country outside the G2 that can swing the balance of global power between the US-led West and the China-led East. India is therefore in the awkward position of being both an ally and a threat to the G2. The recent thaw in India's relations with China is aimed at lowering the bilateral temperature between Beijing and Delhi. China is meanwhile quietly pleased at the tension between the US and India over trade tariffs. Washington has pivoted away from India in Trump's second term. It wants to keep India in the Western camp but is annoyed at India's independent streak over foreign and trade policy. The tariff attack is meant to place pressure on India to toe its geopolitical line. Russia is a red flag. Legislation imposing 100 per cent secondary sanctions on India for buying Russian crude will come up before the House of Representatives when it reconvenes in September. But saner minds in Washington know that India can easily replace the 2.1 million barrels of oil it buys per day from Russia with crude from Saudi Arabia, the UAE, and South America. STORY CONTINUES BELOW THIS AD As India's Petroleum Minister Hardeep Singh Puri said, India bought just 0.1 per cent of its total crude from Russia before 2022. It can go back to near-zero again. The world is awash in oil as demand in China tapers amid its move towards green fuels. The US and China, as they contest global supremacy well into the 2030s, have both tried to weaken India's resolve. China infiltrated across the Line of Actual Control (LAC) on multiple occasions before opting for a more calibrated strategy after India exhibited military force. Significantly, Beijing did not block the UN Security Council's condemnation last week of Pakistani terror group TRF (an LeT offshoot). The UNSC, using strong language, said the TRF was responsible for the Pahalgam attack. Future world order? In his new book The Once and Future World Order, Amitav Acharya, distinguished professor of international relations at American University in Washington, DC, argues that the US-led Western world order was a continuation of older world orders—including civilisations in India and China. STORY CONTINUES BELOW THIS AD Acharya says that as the West declines, the 'Rest' will form a multiplicity of global power blocs. That does not align with the US-China construct of a G2 world. While Washington and Beijing are discomfited by a rising India, some commentators in India downplay the decline of the West that Acharya accurately portrays and underplay the rise of the Rest. For example, C Raja Mohan, distinguished fellow at the Council of Defence and Strategic Research, wrote in The Indian Express on July 30: 'Acharya's critique of Western dominance is compelling, but not all aspects of the Western legacy can or should be discarded. The Enlightenment ideals of the 17th and 18th centuries—reason, scepticism, science, individual liberty, and secularisation of society away from religious dominance—are at the very foundation of Western primacy in the last three centuries." 'If the East wishes to lead in shaping the world order, it must engage these ideals critically and constructively. Any notion that the East can rise by short-circuiting these values is an illusion. It only delays and derails the effort to rise. The battles against political, religious, and other absolutisms remain to be fought and won in the East. Until then, a rising East will not present an alternative model—only a different and less attractive one. The profound internal contradictions within and across the East will continue to keep it well behind the West.' STORY CONTINUES BELOW THIS AD This is the sort of commentary Western institutions use to buttress their own thesis of Western supremacy in a Trump-led world. In Raja Mohan's article, the West is lauded for its 'reason, scepticism, individual liberty, and secularisation of society' without a word (beyond the solitary reference to 'exploitation') pointing out the other contributory factors for the West's rise: rapacious colonialism, the transatlantic slave trade, and extra-territorial invasions. All occurred after the Age of Enlightenment. Acharya's conclusions of a 'multiplex' global order might be an old idea wrapped in a new cover, but it stays honest to the history of the West and the Rest. The rise of China, for example, is inevitable. So is India's over a longer period. The two Asian powers may meanwhile reach a modus vivendi over the next few critical years. By 2035, the combined GDP of China ($30 trillion) and India ($8 trillion) will equal the estimated US GDP at the time ($38 trillion). STORY CONTINUES BELOW THIS AD The G2 could then morph into a G2+1 before becoming a full-fledged G3. It is not a prospect either Washington or Beijing relishes. The writer is an editor, author and publisher. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.
Hans India
22 minutes ago
- Hans India
No pause on Russian oil imports, say govt sources over Trump's claim
New Delhi: After US President Donald Trump claimed that India has stopped purchasing Russian oil, government sources on Saturday clarified there is no such pause on the oil imports from Russia. According to government sources, 'India's energy purchases are driven by national interests and market forces. We do not have any reports of Indian oil firms halting Russian imports'. There was, however, no official statement from the Ministry of External Affairs (MEA) on Trump's statement. 'I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens,' Trump told reporters in Washington, DC. Trump has threatened 100 per cent tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. MEA spokesperson Randhir Jaiswal said on Friday that "You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics'. Some reports have suggested that Indian refiners (Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd) have stopped buying Russian oil in the past week. India is the biggest buyer of Russian crude. According to sources, 'the four refiners regularly buy Russian oil on a delivered basis and have turned to spot markets for replacement supply - mostly Middle Eastern grades such as Abu Dhabi's Murban crude and West African oil'. India sources its oil purchases based on global market offerings to meet its energy. "Our ties with any country stand on their merit and should not be seen from the prism of a third country. As far as India-Russia relations are concerned, we have a steady and time-tested partnership,' said MEA spokesperson Jaiswal said on Friday. "India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties," Jaiswal said in the weekly media briefing.
