Swedish Lovable hits decacorn status with $400 million funding round

Stockholm-based AI software company Lovable has raised $400 million in a Series C round at a $13.3 billion valuation. The round was led by Menlo Ventures and co-led by EQT’s Scaleup Europe Fund, with participation from Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab, and Regent. Existing investors including Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures also participated. Founded in 2024, Lovable develops an AI-powered platform that allows users to create software applications without traditional coding skills. Lovable plans to use the new capital to expand its product and infrastructure, strengthen security and governance capabilities, and grow its...

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