Lovable, A Swedish AI Vibe Coding Startup, Becomes Unicorn With $200M Series A

Swedish AI vibe coding startup Lovable has raised $200 million in a Series A round of funding at a $1.8 billion valuation, making it Europe’s newest unicorn, according to TechCrunch.

The raise, led by Accel, comes just eight months after the startup’s launch.

Founded in 2023, Lovable has to date raised about $224 million in funding. Existing backers 20VC, byFounders, Creandum, Hummingbird Ventures and Visionaries Club also participated in its latest financing.

In December 2024, CEO and co-founder Anton Osika posted on X that the company was “the fastest growing startup in Europe ever,” having reached $4 million in ARR in four weeks.

In February, the startup raised $15 million in a round led by Creandum. At that time, the company said it had reached $17 million in annual recurring revenue and had over 30,000 paying customers.

“Lovable isn’t just about writing code — it’s about making software creation accessible to everyone,” it said at the time.

Vibe coding is a hot space, pulling in massive rounds of funding globally. In June, San Francisco-based Anysphere, which sells the popular AI coding assistant Cursor, confirmed it raised a $900 million round at a staggering $9.9 billion valuation. Accel also participated in that round. Lovable appears to be focused more on the nontechnical user while Anysphere is targeting the enterprise.

Europe funding boost

The raise is a good start to the third quarter for Europe. Overall, funding to startups in the region settled in Q2, coming in flat quarter over quarter, but down 24% from the peak second quarter in 2024, Crunchbase data shows.

A total of $12.6 billion was raised by around 1,200 startups across Europe last quarter, with funding amounts comparable with the previous two quarters.

And for the first time since 2012, Germany-based startups jumped ahead of the United Kingdom by amounts invested in a quarter.

Related Crunchbase query:

Related reading:

Illustration: Dom Guzman