AI startup Lovable on its way to $100 million and unicorn status – according to Bloomberg
The Swedish startup had just raised 15 million euros at the end of February. A significantly larger round could follow just a few months later.
The AI startup Lovable is apparently in talks for a large financing round, according to financial news agency Bloomberg, citing insiders.
According to the report, the Swedish startup has already held talks with US investors to raise at least $100 million at a valuation of $1.5 billion or higher. Such a financing round would make Lovable one of the largest European newcomers in the field of artificial intelligence.
Lovable was founded in 2023. The startup has developed technology to help people without programming skills create apps and websites.
Just last February, Lovable made headlines as Europe's fastest-growing startup by announcing a €15 million funding round – just one and a half years after its founding – led by top Swedish VC Creandum.
In May, Lovable co-founder Anton Osika wrote on LinkedIn that Lovable had surpassed $50 million in annual recurring revenue, about six months after launching its first product. The company's annual recurring revenue is currently at $61 million, the founder said.
Lovable is just one provider of a growing number of so-called "vibe coding" services that have recently attracted strong interest from investors and customers. However, the startup has also recently come under fire: As the news website "Semafor" reported, apps created with Lovable's AI exhibited several security vulnerabilities.
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