Voice AI technology is increasingly becoming a pivotal component for ecommerce companies aiming to bridge the gap between customer intent and action. This was underscored by Karthik Rajaram, India head of ElevenLabs, during a recent AI Summit 2026 panel discussion. Rajaram, along with other industry leaders, emphasized the tangible business improvements driven by seamless AI-driven customer interactions.
### ElevenLabs and Its Role in Voice AI
Founded in 2022 by Mati Staniszewski and Piotr Dąbkowski, ElevenLabs is at the forefront of developing advanced speech synthesis software that leverages deep learning. In India, the company collaborates with major ecommerce platforms like Meesho to handle multilingual customer queries. This integration of voice AI has resulted in significant improvements in query resolution rates and cost efficiencies. Rajaram highlighted ElevenLabs’ partnerships with companies such as Cars24, where the deployment of around 400 voice AI agents has led to a 35% boost in sales conversions.
### The Competitive Landscape and Funding Environment
The Indian AI market is on a trajectory to become a $126 billion opportunity by 2030, potentially contributing up to $1.7 trillion to the nation’s GDP by 2035. This expansive growth is attracting a multitude of startups to the voice AI sector. Companies like CoRover, Bolna, Ringg, and Gnani.ai have been actively raising capital to enhance their technological capabilities and expand their market presence. These companies are part of a growing cohort that sees voice AI as a crucial tool for not only understanding customer intent but also capturing emotional nuances in interactions.
### Implications for India’s Startup Ecosystem
The increasing adoption of voice AI technologies presents significant opportunities for India’s burgeoning startup ecosystem. By enabling more personalized and context-aware customer experiences, voice AI is transforming how businesses interact with their customers. Particularly in sectors like ecommerce and healthcare, the ability to understand and respond to emotional context can lead to better customer engagement and higher conversion rates. However, as noted by Cure’s cofounder Ramakrishna, the rapid integration of AI into business processes must be accompanied by robust governance frameworks. This ensures that AI systems operate within defined boundaries, maintaining reliability and customer trust.
As voice AI technology continues to evolve, it will be crucial for startups and established companies alike to focus on building systems with bounded autonomy. This means allowing AI to manage routine interactions while ensuring that complex or sensitive issues are escalated to human experts. For founders and investors closely watching the Indian tech landscape, the key will be to monitor how voice AI can be effectively integrated into diverse business models while maintaining compliance and customer satisfaction.
