Lovable Secures $200 Million in Series A Funding

Lovable Secures $200 Million in Series A Funding

Swedish AI startup Lovable has raised $200 million in a Series A funding round, reaching a $1.8 billion valuation. The funding will be used to expand its team and enhance its AI-powered platform.

Lovable, a Swedish AI startup, has raised $200 million in a Series A funding round, valuing the company at $1.8 billion. This funding round was led by Accel, with participation from existing investors including 20VC, ByFounders, Creandum, Hummingbird, and Visionaries Club.

Founded in 2023 by Anton Osika, Lovable offers an AI-powered platform that allows users to create apps and websites through conversational interactions, a process referred to as "vibe coding." The platform is designed to be accessible to users without coding expertise, enabling them to develop complex applications easily.

The company plans to use the newly acquired funds to expand its team and enhance its platform, aiming to support the creation of more complex applications. Since its inception, Lovable has attracted over 2.3 million users, with 180,000 of them converting to paying subscribers, generating $75 million in annual recurring revenue.

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