Swedish AI coding startup Lovable has recently closed a new funding round, with its valuation soaring to $6.6 billion (approximately RMB 46.5 billion)—a more than threefold increase from its previous valuation of $1.8 billion (about RMB 13 billion) after the last round. This makes Lovable one of Europe’s most valuable startups. In just one year, its Annual Recurring Revenue (ARR) skyrocketed 20-fold, jumping from $1 million (around RMB 7.04 million) to $200 million (roughly RMB 1.4 billion), with an average of 100,000 projects created daily on its platform.

The latest round attracted participation from prominent venture capital firms including Accel and Khosla Ventures, marking Lovable’s third funding round in 2025. By integrating AI models from OpenAI, Anthropic, and others, Lovable enables users to quickly build applications and websites using natural language, without requiring coding skills.

1. Valuation Hits $6.6 Billion—Tripling in Under a Year

According to informed sources, Swedish AI programming platform Lovable has recently completed a new funding round that values the company at $6.6 billion. As recently as July this year, its post-money valuation stood at just $1.8 billion. This means that in less than half a year, Lovable’s valuation has more than tripled.

U.S. venture capital firm Accel continued to invest in this round, joined by Khosla Ventures. Although specific financing details have not been disclosed, the valuation already positions Lovable among Europe’s top-valued tech startups.

2. From $1M to $200M: Explosive ARR Growth

Founded in 2023, Lovable started as a small team developing programming tools. Driven by AI technology, however, its business has experienced explosive growth.

The company revealed in November that its Annual Recurring Revenue had reached $200 million. Just one year earlier, that figure was only $1 million. User data shows that over 100,000 projects are now created daily on the Lovable platform, ranging from personal websites to enterprise-grade applications.

3. Build Apps by “Speaking”—No Coding Required

At the heart of Lovable’s offering is an AI-powered “conversational programming” platform. Users simply describe what they want in natural language, and the system leverages large language models from OpenAI, Anthropic, and others to automatically generate application or website code.

This “prompt-to-build” approach dramatically lowers the barrier to programming, enabling non-technical users to quickly bring their ideas to life. The company is headquartered in Stockholm and plans to open offices in Boston and San Francisco to further expand its global footprint.

4. Heated Competition in the AI Coding Tool Space

Lovable’s rise is not an isolated case. This year, the global AI programming tools sector has seen active investment, with several companies achieving significant valuation increases.

U.S.-based AI coding tool Cursor’s developer, Anysphere, reached a valuation of $2.93 billion after a funding round in November. Replit completed a $250 million fundraising in September, valuing the company at $3 billion. Vercel also recently closed a $300 million round, reaching a $9.3 billion valuation.

Closing Thoughts: The Era Where Everyone Can Be a “Creator”

In just two years, Lovable has grown from a startup into a star player in Europe’s AI programming field—a transformation fueled by the deepening practical application of AI technology.

As “natural language programming” becomes more widespread, the barriers to software development will continue to fall, accelerating the arrival of an era where everyone can truly become a creator.