Sweden’s Lovable valued at $13.3bn with Scaleup Europe Fund backing
Lovable now aims to expand on its product and infrastructure, and wants to hire across offices globally. 3bn with Scaleup Europe Fund backing
Swedish AI start-up Lovable has secured a substantial $400 million funding round led by Menlo Ventures and co-led by EQT-run EU fund, valuing the company at $13.3 billion. The $330 million Series B round, also led by Menlo, doubled Lovable's valuation from last December. The fresh infusion of capital will be used to expand the product and infrastructure, as well as hire globally.
The AI vibe-coding platform, launched in late 2024, has seen over 60 million projects created by users, enabling them to build apps and websites using AI. With global backing from firms like Balderton Capital, Carmignac, World Innovation Lab, Accel, HubSpot, Salesforce, and Tencent, Lovable aims to challenge competitors like ChatGPT and Claude.
The company plans to grow its global team to approximately 450 people, focusing on machine learning, product, infrastructure, and security roles.
Written by urgent.news from Silicon Republic's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Sweden’s Lovable valued at $13.3bn with Scaleup Europe Fund backing siliconrepublic.com
