Swedish Startup Lovable is in discussions to raise $150mn with a valuation of just under $2bn. Financial Times reports. The Stockholm-based company has developed a generative AI-platform that allows non-technical people to create apps or websites using simple text prompts.
“I realised that we needed to build for the 99% of people who don’t know how to code,” Anton Osika told TNW, Lovable co-founder in April. Osika founded Lovable in 2023 with Fabian Hedin. Aspen was last week. stated that the company had generated 75mn in annual revenue recurring (ARR) after launching the platform within seven months, making it one Europe’s fastest growing startups.
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By allowing non-technical founders to create successful businesses without any prior coding or software experience, Osika believes the company is “unlocking a new economy.”
If Lovable’s funding round closes as expected, it would mark one of Europe’s biggest funding rounds of 2025 so far — and the latest sign of investor appetite for AI developed on the continent.
It follows Helsing, which builds AI software for defence, raising a hefty €600mn in June, and DeepMind spin-off Isomorphic Labs, which uses AI for drug discovery, securing €508mn in March. And if If reportsare to believed, French AI startup Mistral plans a EUR1bn fundraising for later this year.
Lovable will raise its largest funding round to date. According to Dealroom data, the startup raised EUR6.8m (USD16mn) in seed funding last October and $16mn (USD16mn) in seed funding this February.
According the Financial Times, Accel, an early investor in Facebook, is leading the latest funding round. Existing investors such as 20VC, Creandum and others are also participating.
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