STOCKHOLM, Aug 12: Swedish AI software development startup Lovable has raised $400 million in a Series C funding round, taking its valuation to $13.3 billion as demand for artificial intelligence powered coding tools continues to accelerate.
The funding round was led by Menlo Ventures and the Scaleup Europe Fund, with participation from investors including Balderton Capital, Tencent and other backers from Europe, Asia and Latin America.
Lovable enables users to create software and applications through natural-language prompts, reducing the need for traditional programming skills. The company has positioned its platform as a tool that can help businesses and individuals develop and operate software more quickly.
The latest investment represents a sharp increase from the company’s previous valuation. Lovable had raised $330 million at a valuation of $6.6 billion in December, meaning its valuation has approximately doubled within months.
The company said the fresh capital will support expansion of its product, infrastructure and workforce as it seeks to accelerate its global growth.
The rapid rise of Lovable reflects growing investor interest in so-called “vibe coding”, where users describe the software they want in ordinary language and AI generates much of the underlying code.
The funding also highlights the broader shift in software development as AI tools increasingly move beyond assisting experienced programmers and begin enabling non-technical users to build applications.
With its latest capital injection, Lovable is expected to focus on improving the reliability, speed and scalability of its AI-powered development platform while expanding its presence in international markets.
