No-code platform Lovable is seeking to raise $150 million and achieve double unicorn status.
Swedish startup Lovable is reportedly in discussions to secure $150 million at a valuation close to $2 billion, as stated by the Financial Times.
The Stockholm-based company has developed a generative AI platform enabling non-technical users to create apps or websites through straightforward text prompts.
“I realized we needed to develop something for the 99% who do not engage in software creation,” Anton Osika, Lovable’s co-founder, told TNW in April.
Osika co-founded Lovable with Fabian Hedin in 2023. Last week, Osika announced that the company achieved $75 million in annual recurring revenue (ARR) within just seven months of launching the platform, establishing it as one of Europe’s fastest-growing startups.
The latest news from the EU tech landscape includes insights from our founder Boris and some dubious AI-generated art. It's complimentary and arrives weekly in your inbox. Sign up today! By enabling non-technical entrepreneurs to establish thriving businesses without any coding or software knowledge, Osika believes the company is “unlocking a new economy.”
If Lovable’s funding round is completed as anticipated, it would represent one of the largest funding rounds in Europe for 2025 to date, reflecting a strong interest from investors in AI advancements on the continent.
This comes after Helsing, which develops AI software for defense, raised an impressive €600 million in June, and DeepMind spin-off Isomorphic Labs, which applies AI to drug discovery, secured €508 million in March. Additionally, it is rumored that French AI startup Mistral plans to raise an astonishing €1 billion later this year.
Lovable’s upcoming funding round will significantly surpass its previous efforts. The startup raised €6.8 million in seed funding in October and a $16 million seed round in February, according to Dealroom data.
As per the Financial Times, early Facebook investor Accel is at the forefront of the latest funding round, with other existing investors like 20VC and Creandum also participating.
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No-code platform Lovable is seeking to raise $150 million and achieve double unicorn status.
Lovable has created a generative AI platform that enables non-technical users to develop apps or websites using straightforward text prompts.