Swedish startup Lovable, which develops a platform allowing anyone to create apps and websites by chatting with AI, has raised $200 million in a Series A funding round, valuing the company at $1.8 billion and making it Europe’s latest unicorn.
- Lovable is a Swedish startup launched in 2023 by founder Anton Osika. The company develops an AI-powered platform designed for users without specialist coding skills, enabling them to create complex applications through simple, conversational interactions, a method the startup calls “vibe coding.”
- By leveraging AI, Lovable makes app development more accessible, empowering over 2.3 million users to bring their ideas to life without needing traditional programming expertise.
- Before this latest round, Lovable had raised a total of only $22.5 million, including a $15 million pre-Series A funding secured in February earlier this year.
Details of the deal
- The investors include Accel, an American venture capital firm that has raised $650 million to support European early-stage startups, which led the round, along with existing backers 20VC, ByFounders, Creandum, Hummingbird, and Visionaries Club.
"Hummingbird met Anton Osika in May 2023, before Lovable existed. We instantly had conviction that he was a special founder poised to build a legendary company. When the time came, we jumped at the chance to become Lovable’s first investor. Two years in, and we know Lovable is just getting started," Hummingbird's team, commented on LinkedIn.
- Lovable plans to use the fresh $200 million capital to grow its team and enhance its product to support users in building more complex apps and websites.
