AI Startup Lovable Raises $400 Million at $13.3 Billion Valuation

Lovable raised $400 million in a Series C funding round, bringing the Stockholm-based AI coding startup's valuation to $13.3 billion. The round was led by Menlo Ventures and the Scaleup Europe Fund, which is managed by EQT AB, with additional participation from Tencent Holdings Ltd. and various venture capital firms from Asia and Latin America.

Founded in 2023, the company provides "vibe-coding" tools designed to enable non-programmers to build applications and websites. Lovable currently serves corporate clients including Adidas AG, Deutsche Telekom AG, and Hearst.

This latest investment marks a rapid increase in the company's market value, which stood at $6.6 billion following a $300 million funding round eight months prior. Lovable operates in a competitive landscape alongside major players such as OpenAI, Google, and Anthropic. The market also includes Cursor, which was acquired by SpaceX for $60 billion in June.