Voiseed and the EIC Accelerator: Emotional AI Voices, Little Revenue

Dubbing a video game or a series into many languages takes actors, studios and time. Voiseed, a Milan company registered in 2020 and led by Andrea Ballista, who founded a dubbing company later sold to Keywords Studios, set out to generate the voices with AI instead: synthetic speech that carries emotion and can be controlled down to the sound of each syllable, in many languages.

The European Innovation Council granted €2,072,266 towards a €2.96 million project, and the EIC Fund invested in its 2023 seed round. The project delivered the platform, Revoiceit, in 16 languages. Commercially, the record is thin: Italian filings show revenue of €73,600 in 2025 against a net loss of €902,000.

Where Voiseed Stands Today

Voiseed sells Revoiceit to localisation companies, and has extended it from video games to media, entertainment and corporate video, according to a company release on Slator. The localisation firm Tapas Localization announced an AI dubbing service built on it after more than a year of trials, as reported by MultiLingual.

The accounts show how small that business still is. According to reportaziende.it, revenue was €5,900 in 2023, €11,300 in 2024 and €73,600 in 2025, while net losses grew from €291,200 to €463,300 and €901,900. Ufficiocamerale gives the same 2024 figures, €11,308 revenue and a €463,279 loss, and 12 employees in 2026.

The Technology: Emotion as a Control

Standard text-to-speech reads text in a neutral voice. Voiseed's system is meant to let a producer set the emotion and delivery of each line, so that a synthetic voice can act. The CORDIS report calls it "the first generative AI technology able to synthesize phoneme level controllable expressive speech in multiple languages with multiple voices", built on a proprietary multilingual emotional speech dataset. According to Slator, users can generate voices "starting from a few seconds prompt".

What the EIC Project Promised, and What CORDIS Shows

The objective was a platform with more than 32 emotions in 16 languages, based on a unique expressive speech dataset. The project ran from January 2022 to June 2024 and, per CORDIS, delivered the dataset, the synthesis technology and an enhanced cloud version of Revoiceit supporting 16 languages. The report does not give customer, usage or revenue figures.

1. Expressive multilingual TTSDeliveredRevoiceit in 16 languages, per CORDIS.
2. Proprietary emotional datasetDeliveredBuilt during the project.
3. 32+ emotionsNot confirmedThe report does not state the number reached.
4. Commercial tractionWeakRevenue of €73.6K in 2025.

What Has Happened Since the Award

The Money

Voiseed's disclosed private funding is a €1 million seed round in January 2023, led by the evergreen fund LIFTT with €500,000 and joined by the EIC Fund, according to Slator. Against that, and the €2.07 million grant, the company has earned less than €100,000 in revenue in three years. The losses of 2024 and 2025 alone total about €1.37 million.

Why Europe Should Care

AI voice generation is a fast-moving field where a European company with deep dubbing expertise could hold a niche. The EIC backed that bet with both grant and equity. Its filed accounts show revenue that is a fraction of its costs.

The Verdict

Voiseed has not been asked for comment for this article. It is based entirely on public records, company statements and EU project data, linked throughout.