Swedish AI startup Lovable is making waves in the tech world as it is on track to raise over $150 million in a new funding round, valuing the company at an impressive $2 billion. According to recent reports, the round is led by prominent venture capital firm Accel, highlighting strong investor confidence in Lovable’s innovative approach to app development.
Founded as a pioneer in the vibe coding space, Lovable has developed a generative AI platform that empowers non-technical users to create apps and websites using simple text prompts. This no-code solution has captured significant attention, positioning the company as one of Europe’s fastest-growing AI startups.
Since the release of its flagship product, the vibe coder, in late November, Lovable has achieved remarkable growth. CEO Anton Osika revealed that the startup reached an annual recurring revenue (ARR) of $50 million within just six months, showcasing the platform’s rapid adoption and market demand.
The latest funding round, initially rumored to target $100 million at a $1.5 billion valuation, has exceeded expectations, reflecting the surging interest in AI-driven development tools. Investors are rushing to back vibe coding startups as the technology promises to democratize software creation.
Lovable’s success underscores a broader trend in the tech industry, where generative AI continues to transform traditional processes. The platform’s ability to simplify app-building for non-coders could redefine how businesses and individuals approach digital solutions.
As Lovable prepares to close this monumental funding round, the tech community is eager to see how the company will scale its operations and further innovate in the AI space. With this financial boost, Lovable is poised to solidify its position as a leader in the no-code revolution.
Andrew Lee
