Sweden’s Lovable Challenges Cursor and Copilot, Targets $100M at $1.5B Valuation with AI-Powered App Development

Lovable, a Swedish AI-driven software development platform, is in discussions for a funding round at a $1.5 billion valuation, just over six months post-launch. Its goal is to eliminate the coding barrier for the 99% of individuals who cannot code, enabling anyone—from entrepreneurs to designers—to create software using natural language prompts. Unlike competitors like Cursor and Copilot, which cater to professional engineers, Lovable targets non-coders, allowing them to construct various applications without technical skills. Co-founders Anton Osika and Fabian Hedin leverage their unique backgrounds to enhance Lovable’s technology, which combines leading AI models in a user-friendly platform that generates functional software quickly. The platform has shown remarkable growth, achieving $1 million in ARR within 8 days and serving 500,000 users with high retention rates. As Lovable prepares for global expansion and technical improvements, it aims to redefine innovation and entrepreneurship by making software creation accessible to all.

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