Lovable, a Swedish AI startup developing what it claims to be the world’s first AI full-stack engineer, has raised $15 million (€14.29 million) in a pre-Series A funding round. The investment was led by Creandum, with participation from prominent angel investors including Charlie Songhurst, Adam D’Angelo, and Thomas Wolf, co-founder of Hugging Face.
Fredrik Cassel, General Partner at Creandum, stated that the level of user engagement with Lovable’s platform is remarkable, comparing it to the early success of Spotify. He stressed that Lovable has the potential to become one of Europe’s defining AI companies in this new technological era.
Lovable’s AI-powered platform goes beyond traditional no-code tools by allowing users to develop software without coding while also helping developers work up to 20 times faster. The technology enables the creation of a wide range of applications, from basic websites to complex business solutions, including interactive dashboards and automation systems. The company has rapidly expanded, achieving $17 million (€16.20 million) in Annual Recurring Revenue (ARR) and attracting 30,000 paying customers within three months of launch. With 25,000 new applications built daily on its platform, Lovable is emerging as one of Europe’s fastest-scaling startups.
The company attributes its rapid adoption to the platform’s ease of use, making software development accessible to non-technical users, including entrepreneurs, designers, and business professionals. Founder Anton Osika emphasized that less than one percent of the global population can code, describing this as a major barrier to innovation. He explained that Lovable aims to remove this obstacle by enabling anyone with an idea to transform it into a working product in minutes.
The newly secured capital will be used to accelerate AI advancements, enhance automation capabilities, and integrate with services like Supabase and GitHub. Osika highlighted that the investment will strengthen the company’s technology and broaden its accessibility to users worldwide.
Featured image: Credit: Lovable
