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Fast-growing Swedish AI coding startup Lovable has officially become Europe’s latest unicorn. In just eight months since its launch, the company has successfully secured a $200 million Series A round led by Accel, reaching a valuation of $1.8 billion.
Using natural language, Lovable allows users to create websites and apps in a similar fashion to Cursor and other platforms that leverage large language models for coding. With over 2.3 million active users, the startup has quickly gained momentum, boasting more than 180,000 paying subscribers and generating $75 million in annual recurring revenues within seven months.
With only 45 full-time employees, Lovable has achieved remarkable growth, attracting investments from notable backers such as 20VC, Creandum, and Visionaries Club. The platform has seen substantial usage from non-technical users looking to build prototypes for collaboration with developers, with over 10 million projects created to date.
Tech and VC heavyweights join the Disrupt 2025 agenda
CEO Anton Osika envisions Lovable as a tool capable of producing production-grade applications to support thriving businesses. Notably, Osika himself has become an angel investor in a software startup reportedly developed using Lovable. Additionally, a Brazilian edtech company’s app created with Lovable grossed $3 million in just 48 hours, showcasing potential growth opportunities for the startup. With enterprise clients like Klarna and HubSpot on board, Lovable’s future looks promising.
