Stockholm’s Lovable Raises $330M at a $6.6B Valuation — Founders Become Billionaires as AI “Vibe Coding” Revolutionizes Software Development

Lovable, the fast-rising AI startup behind the groundbreaking “vibe coding” platform, has closed a massive $330 million Series B funding round at a $6.6 billion valuation — more than tripling its worth in just five months. The news also cements a remarkable personal milestone: co-founders Anton Osika (35) and Fabian Hedin (26) are now officially billionaires.

The round was co-led by CapitalG (Alphabet’s growth fund) and Menlo Ventures’ Anthology fund, with participation from heavyweights including Nvidia’s NVentures, Salesforce Ventures, Databricks Ventures, Khosla Ventures, and several other top tier investors.

What Is Vibe Coding — And Why It’s Changing Software

At the heart of Lovable’s meteoric rise is its AI-powered “vibe coding” platform — a tool that lets users build fully functional applications simply by describing what they want in natural language. Rather than writing traditional code, users type prompts, and the AI generates full codebases and deployable applications.

This ability to bridge the gap between ideas and working software has attracted both everyday creators and enterprise teams, enabling rapid prototyping and reducing the barriers to software development. Major companies such as Klarna, Uber, and Zendesk are already customers, building applications and services on the platform.

From Open-Source Roots to Global Unicorn

Lovable’s story began in 2023, when Anton Osika released GPT Engineer, an open-source tool that demonstrated the potential of AI to generate full codebases from human descriptions. With co-founder Fabian Hedin, Osika quickly pivoted the idea into a commercial product and officially launched Lovable in late 2024..

Since then, the startup has achieved astonishing milestones:

• Raw growth: Lovable reached $100 million in annual recurring revenue (ARR) within eight months of launching, doubling to $200 million ARR just four months later — among the fastest in software history.
• Rapid adoption: With hundreds of thousands of paying customers and tens of millions of projects created annually, the platform’s reach has grown at an unprecedented pace.
• Geographic impact: By choosing to stay rooted in Stockholm rather than relocating to Silicon Valley, the founders are proving that European tech hubs can foster world-class AI innovation.

How Lovable Plans to Use the New Funding

With the fresh infusion of capital, Lovable has outlined ambitious plans to expand its platform:

• Deeper integrations with third-party tools like Stripe, Notion, and Jira to streamline development workflows.
• Enterprise enhancements tailored to large organizations seeking AI-assisted application development.
• Infrastructure build-out including native support for databases, hosting, and payment systems — enabling production-ready apps without external services.
• Talent growth, with plans to double the team and expand globally as demand increases.

These investments signal Lovable’s transition from a nimble startup to a comprehensive platform that aims to redefine how software is created and deployed worldwide.

Industry Context: AI Coding Is the Next Frontier

Lovable’s success reflects a broader shift in the software industry toward AI-assisted development. As businesses and creators look for faster, more accessible ways to build software, platforms that democratize coding are capturing massive attention and capital.

Competitors in this burgeoning space include many major players exploring similar concepts — indicating that “vibe coding” and AI-centric development will be central to the future of engineering.

What This Means for Developers and Innovators

Lovable’s rise offers major implications for both seasoned developers and novice creators:

• Lower barriers to entry: Non-technical founders and entrepreneurs can now build and launch apps without deep coding expertise.
• Faster prototyping: Startups can validate ideas rapidly, shortening iteration cycles.
• Enterprise potential: Larger organizations can streamline engineering workflows and empower internal teams with AI-assisted capabilities.

However, as the technology matures, questions around code quality, security, and maintainability remain topics of discussion — particularly as AI begins handling more complex tasks.

A New Era in Software Creation

Lovable’s $330 million funding round at a $6.6 billion valuation marks a watershed moment in the evolution of software development. Not only has the company accelerated the adoption of AI-driven coding, but it has also reimagined who gets to build the digital tools and systems that power our world.

With its founders now among the youngest self-made billionaires in tech, Lovable stands at the forefront of what many analysts call the next revolution in programming — one where ideas matter more than syntax and innovation is limited only by imagination.

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