Lovable, a Stockholm-based AI startup, has secured €14.3 million in a pre-Series A funding round led by Creandum, with participation from notable angel investors including Charlie Songhurst (Meta), Adam D’Angelo, and Thomas Wolf (Huggingface). The startup secured €6.8 million in pre-seed funding earlier. Founded in 2023, Lovable has developed an AI-powered platform that allows users to create software without coding knowledge, aiming to streamline the development process for both technical and non-technical users. With the new funding, Lovable plans to expand its integrations with services like Supabase for databases and GitHub for code storage, while continuing to refine its AI capabilities.
Lovable, formerly known as GPT Engineer, is an AI-powered platform designed to simplify software creation. The company began in mid-2023 as an open-source project aimed at exploring how AI could assist in building software. Initially, GPT Engineer catered to developers by providing a command-line tool, which quickly became one of the fastest-growing repositories on GitHub, gaining over 50,000 stars. The company has grown rapidly, reaching €16.2 million in annual recurring revenue and 30,000 paying customers within just three months of launch. The startup is positioning itself at the forefront of the growing AI-driven software development market, expected to reach €25.5 billion by 2030.
Recognizing the need to make AI-driven software creation more accessible, the team developed a commercial web version, gptengineer.app, intended for non-technical users. By late 2023, the company rebranded as Lovable, broadening its mission to build a platform that allows users to create software through natural conversation, expanding beyond the developer-focused approach of GPT Engineer.
“Less than 1% of the world’s population can code, which is a significant drag on innovation,” said Anton Osika, Co-founder and CEO of Lovable. “Imagine if anyone with a powerful idea could turn that idea into a product? This is the vision we’re making a reality at Lovable.”
Lovable’s evolution reflects a shift toward creating more user-friendly tools that enable both technical and non-technical users to develop websites, web apps, and prototypes. The open-source GPT Engineer project remains active on GitHub, serving as a valuable resource for developers exploring AI-assisted software development, while the commercial platform has moved to the Lovable brand. Users of the previous platform can continue to access their projects under the new branding, with no changes to their deployments.
Fredrik Cassel, general partner at Creandum, said, “I haven’t seen this level of user love for a product since we invested in Spotify. It’s truly astounding. Lovable has the potential to become one of Europe’s next generational companies in this new era of AI.”
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Read the orginal article: https://arcticstartup.com/lovable-raises-e14-3m-pre-series-a/
