Lovable, a Swedish AI start-up founded in 2021, is poised to reach a nearly $2 billion valuation following plans to secure over $150 million in new funding, as interest in AI coding solutions surges. The funding round is led by venture capital firm Accel, alongside existing investors 20VC and Creandum, with the deal positioning Lovable as one of Europe’s fastest-growing AI firms. Launched late last year, Lovable’s programming tool enables users, even those without technical expertise, to create fully functional apps and websites using AI-generated code. From $17 million in annual recurring revenue just three months post-launch, Lovable soared to $75 million in a mere seven months. While Europe has often lagged behind the U.S. and China in generative AI, Lovable exemplifies a wave of new start-ups tapping into this technology, fostering innovations across various sectors and democratizing software development for consumers and businesses alike.
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