Lovable, the hyped Swedish coding startup, has become Europe's latest unicorn, after a $200m funding round. The Series A funding round, which gives Lovable a valuation of $1.8bn, was led by Accel, with existing investors 20VC, ByFounders, Creandum, Hummingbird, and Visionaries Club also taking part in the round.
It marks Sweden’s biggest-ever Series A funding round. Its latest funding round follows Lovable's $15m pre-Series A funding round in February this year. Up until this Series A round, Lovable had raised just $22.5m in total.
Founded in 2023, Lovable has become synonymous with what is called “vibe coding”, which can be described as helping people without specialist coding knowledge build apps and websites.
In an interview with Forbes, Lovable CEO Anton Osika said the investment would be used to increase the size of its 45-person team and build out its product to support users working on more complex apps and websites. Lovable says it has more than 2.3m users building apps on its platform.
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