Swedish vibe coding startup Lovable has acquired the team behind AI agent startup Nalvin, as it looks to drive growth by cherry-picking top founders from startups.
Stockholm-based Nalvin is an AI agent platform that automates repetitive tasks for businesses. It was founded by Pontus Gifvas, Fredrik Stockman, and Pascal Chatterjee. Anton Osika, Lovable CEO and co-founder, said: “I really like these founders and I'm very excited to have them on board.
“I believe Lovable is the best place for great talent to do their life's work and every team like this makes me more sure of it. Since we started, we have had four teams of deep technical founders join the mission. Founders often have the intuition for what it actually takes: the standards, the pace, the culture. They think end to end and they bring it with them on day one.”
Nalvin said: “We started Nalvin to help companies put AI to work the way their business actually runs. At Lovable, we get to keep working on that same problem at a much larger scale.”
Financial details of the deal were not disclosed, but it appears to resemble a kind of acqui-hire, whereby a company snaps up a startup for talent. Founded in 2023, Nalvin, previously called Version Lens, received €1.5m pre-seed funding from People Ventures, Curiosity and Pitchdrive in 2024.
Last valued at $6.6bn, Lovable is reportedly in talks to raise $300m at a $13.2bn valuation, doubling its valuation. Lovable, which competes against the likes of Replit, Cursor, as well as coding tools offered by the big AI labs, has been public about hunting for acquisitions.
Osika has previously posted on X that it was looking for ”more great teams and startups to join Lovable.” In November last year, Lovable acquired cloud infrastructure provider Molnett.
Would you like to write the first comment?
Login to post comments