Lovable snaps up team behind Swedish AI agent startup Nalvin

Swedish coding startup Lovable has acquired the entire team behind AI agent startup Nalvin in a move to bolster growth by adding top founders from other startups. Nalvin, based in Stockholm, is an AI agent platform designed to automate repetitive tasks for businesses. Its founders, Pontus Gifvas, Fredrik Stockman, and Pascal Chatterjee, joined the Swedish tech scene in 2023.

Lovable's CEO and co-founder, Anton Osika, expressed enthusiasm about the acquisition, stating, "I really like these founders and I'm very excited to have them on board." Osika believes Lovable is the ideal environment for exceptional talent to make their mark, and the recent addition of the Nalvin team reinforces this belief. Since its inception, Lovable has welcomed four teams of deep technical founders, recognizing their ability to set standards, maintain pace, and foster a strong culture.

Nalvin's leadership, Pontus Gifvas, Fredrik Stockman, and Pascal Chatterjee, shared that the decision to join Lovable stems from the company's ability to tackle the same problem of integrating AI into business operations, but on a much larger scale. The financial terms of the deal have not been disclosed, but it appears to be an acqui-hire, in which a company acquires a startup primarily for its talent.

Nalvin, previously known as Version Lens, secured €1.5m in pre-seed funding from People Ventures, Curiosity, and Pitchdrive in 2024. The Swedish AI agent platform was valued at $6.6bn in the last valuation. Meanwhile, Lovable, which competes with companies like Replit, Cursor, and AI offerings from major tech labs, has been actively seeking acquisitions.

Osika has previously announced the company's pursuit of "more great teams and startups to join Lovable." In November of the previous year, Lovable acquired cloud infrastructure provider Molnett.