Sweden's Lovable Valued at $13.3bn with Scaleup Europe Fund Backing
Menlo Ventures and the Scaleup Europe Fund co-led the round as Lovable’s revenue tripled and its run rate neared $600 million, the company said.
- On Wednesday, Swedish AI start-up Lovable raised $400m at a $13.3bn valuation in Series C funding co-led by Menlo Ventures and the Scaleup Europe Fund, managed by EQT.
- The European Commission participated through the Scaleup Europe Fund to help local startups compete globally, aiming to prevent successful firms from relocating headquarters to America.
- Since late 2024, users have created more than 60 million projects on the platform, and the company's revenue is tripling, reaching a run rate approaching $600m by month's end.
- Lovable plans to grow its global workforce by 50% to roughly 450 people this year, expanding operations into Latin America while adding new security features.
- Facing competition from rivals like Replit and Cursor, the startup aims to challenge established players like ChatGPT, with founders describing their mission as building "the business that helps build businesses.
32 Articles
32 Articles
Lovable’s $13.3 Billion Leap: How Vibe Coding Turned Prompts Into a European Tech Powerhouse
Stockholm moves fast in August. Yet even by local standards, the news from Lovable landed with force. The Swedish startup just closed a $400 million Series C. Its valuation? $13.3 billion. Double what it commanded eight months earlier. From Blank Page to Business Builder Anton Osika co-founded Lovable in 2024. He and Fabian Hedin set out to solve a frustration shared by millions. Ideas die at the keyboard. Not for lack of vision. For lack of cod…
Kreiszeitung
The Swedish start-up Lovable is now worth 13.3 billion dollars, twice as much as in December. The deal shows how hot the market for AI coding tools is currently running.
Tencent Backs Lovable in $400 Million Series C at $13.3 Billion Valuation · TechNode
Lovable, a Stockholm-based software creation platform, has raised $400 million in Series C funding at a $13.3 billion valuation. The round was led by Menlo Ventures and co-led by EQT’s Scaleup Europe Fund. New investors include Tencent, Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, World Innovation Lab and Regent. Lovable provides tools that allow users to create software and business applications without traditional programming exp…
Lovable, a Swedish startup specializing in "vibe coding", announced on Wednesday (12) that it raised US$ 400 million in a C-series financing round, with an evaluation of US$ 13.3 billion, double the one recorded in December. Menlo Ventures and the Scaleup Europe Fund, managed by the EQT, jointly led the round. Tencent, Balderton Capital and other new investors from Europe, Latin America and Asia also participated. Among the current investors are…
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