Stockholm-based “vibe coding” startup Lovable, an AI platform that turns simple prompts into apps and websites, is approaching a valuation of $1.8bn, according to reports.
At just two years old, the buzzy startup is on track to raise more than $150m in new funding less than six months after its $15m pre-Series A funding round in February, the Financial Times reports.
The raise, which is not yet finalised, was led by Palo Alto-headquartered VC firm Accel, with participation from existing backers including leading European VC firm Creandum and Harry Stebbings’ investment firm 20VC.
Lovable did not immediately respond to a request for comment.
One of Europe’s hottest AI startups, Lovable is developing AI agents to enable users to create apps and websites without needing to learn how to code. Its tool draws on the output of different AI models such as OpenAI, Anthropic and Google.
Last week, just over six months after launching its first product, Lovable founder and CEO Anton Osika announced the company had topped $75m in annual recurring revenue (ARR).
Last month, the startup also topped Sifted’s B2B SaaS Rising 100, a ranking of Europe’s most promising business-focused software companies valued under $1bn.
While Europe is widely seen as lagging behind the US and China in the GenAI race, due in part to the explosion of foundation models such as ChatGPT, Lovable is part of a new set of freshly funded European startups focussing on AI agents, including AI darling Mistral and secretive AI startup H Company, as well as UK startup Synthesia.
AI agents are the hype sector of the moment. Just six weeks into 2025, European startups developing AI agents picked up €481m, according to Sifted data — more than a quarter of the funds raised by such startups across 2024.
Read the orginal article: https://sifted.eu/articles/lovable-approaches-2bn-valuation/
